Mario Berta, the founder of the Manilla-based FlySpaces, told e27 that the deal has been cooking since a meeting at the Geeks on the Beach conference in late August this year.
“More than actual numbers of spaces 8spaces is adding local knowledge and clients portfolio, 8spaces and FlySpaces share most of the co-working already, but 8spaces is a bigger brand than FlySpaces in Malaysia,” said Berta.
The Founder of 8spaces, Lais de Oliveira, will be joining the executive team and focus on the Malaysian market and regional community building for FlySpaces (as Chief Community Officer).
“Joining the fastest growing regional player will enable 8spaces to fulfill its mission while working with a solid and strong team. This is the direction 8spaces was headed in any case,” said Lais.
According to a press release, the acquisition was made for an undisclosed amount of cash and equity.
Currently, FlySpaces offers over 800 available spaces across 5 cities including Kuala Lumpur, Manila, Cebu, Singapore, and Hong Kong.
Its clients include top international brands including Nestle, Heineken, Unilever as well as tech giants Google, and Uber.
FlySpaces said it plans to launch in a sixth regional city, Jakarta, by January next year.
Image Credit: FlySpaces