Smartworks Acquires Singapore Flex Space Provider to Expand Asian Footprint
Smartworks Coworking Spaces Limited has approved the acquisition of WorkStudio Spaces Pte. Ltd., a flex space provider, aiming to significantly bolster its presence in the international business hub of Singapore. The decision was ratified by the company's Audit Committee and Board of Directors during meetings held on June 25, 2026.The acquisition involves Smartworks Space Pte. Ltd., a wholly-owned subsidiary of the company. Upon finalizing the transaction, WorkStudio Spaces Pte. Ltd. will become a step-down subsidiary of Smartworks Coworking Spaces Limited. The purchase is intended to expand the company's coworking and flex space portfolio in Singapore, which is identified as a key international business hub for the firm.
This strategic expansion is expected to enhance Smartworks' market presence and improve its capacity to serve enterprise clients within Asia. As a result of this acquisition, Smartworks' portfolio in Singapore will grow to four centers, encompassing approximately 76,000 sq. ft., thereby more than doubling its footprint over the past two years.
Key details regarding the target entity and the transaction are as follows:
| Metric | Detail |
|---|---|
| Target Entity Name | WorkStudio Spaces Pte. Ltd. |
| Acquirer | Smartworks Space Pte. Ltd. (Wholly-Owned Subsidiary) |
| Industry of Target | Flex Space Provider |
| Acquisition Status | 100% acquisition through the subsidiary |
| Consideration Form | Cash |
| Expected Completion Timeline | Within July 2026 |
WorkStudio Spaces Pte. Ltd., which is incorporated in Singapore since November 20, 2024, specializes in providing flexible workspace solutions, managed office spaces, and related services. The entity primarily operates in Singapore. Regarding financial performance, the turnover of WorkStudio Spaces Pte. Ltd. for the period from incorporation to March 31, 2026, was INR 5.09 Crores.
The acquisition is anticipated to be completed within July 2026, contingent upon necessary approvals and the execution of the concerned transaction documents by the company's Wholly-Owned Subsidiary.
SMARTWORKS Stock Price Movement
On Thursday, Smartworks Coworking Spaces Limited gained by 2.48%, settling at ₹489.55 in market action. The shares saw heavy trading during the session, recording a total volume of 181,360.Disclaimer: Due care and diligence have been taken in compiling and presenting news and market-related content. However, errors or omissions may arise despite such efforts.
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