WeWork, the fast-growing provider of co-sharing work spaces, has acquired Case, the New York-based building information modeling consultant.
The acquisition of comes a few months after WeWork, in June, announced that it had raised $400 million from investors, bringing its total funding to nearly $1 billion.
David Fano, one of Case’s three cofounders, explained that as part of WeWork, his firm’s design teams will be thinking more about “process improvements” and how it can take efficient space design, construction, and management to the next level. “We were really excited about being on the decision-making side … and having a direct hand in designing the construction we are going to do,” Fano told the Commercial Observer.
Fano says more than 90% of Case’s 63-person workforce is joining WeWork, and that his company will now work exclusively for its owner. He adds that the combination should help WeWork standardize the means by which it designs its properties.
Started less than five years ago, WeWork’s valuation is now somewhere between $5 billion and $10 billion. The company has more than 30,000 customers in 11 U.S. cities, and more than 1 million sf of shared office space in New York City alone. In the first half of 2015, WeWork was Manhattan’s most active tenant, according to The Real Deal.
Over the last 36 months, WeWork has grown to 70 employees from eight. A few months ago, Roni Bahir, its Executive Vice president of Strategic Development and Special Projects, said the company intends to open between 40 and 50 locations by June 2016, and add at least 50 million sq of space within the next five years. WeWork has been one of Case’s “owner” clients for the past three years.
When Case launched in 2008, it was operating out of one of WeWork’s spaces, and the two companies have since been linked at the hip as WeWork has expanded. The terms of the acquisition were not disclosed, but both Case and WeWork have moved into permanent headquarters at 115 West 18th Street in New York’s Chelsea neighborhood.
Related Stories
Intelligent Lighting | Feb 13, 2023
Exploring intelligent lighting usage in healthcare, commercial facilities
SSR's Todd Herrmann, PE, LEEP AP, explains intelligent lighting's potential use cases in healthcare facilities and more.
AEC Tech | Jan 27, 2023
Epic Games' latest foray into the AEC market and real estate industry
From architecture to real estate, the realm of computer-aided design hits new heights as more and more firms utilize the power of Epic Games’ Twinmotion and Unreal Engine.
AEC Tech | Jan 27, 2023
Key takeaways from Autodesk University 2022
Autodesk laid out its long-term vision to drive digital collaboration through cloud-based solutions and emphasized the importance of connecting people, processes and data.
Digital Twin | Nov 21, 2022
An inside look at the airport industry's plan to develop a digital twin guidebook
Zoë Fisher, AIA explores how design strategies are changing the way we deliver and design projects in the post-pandemic world.
BAS and Security | Oct 19, 2022
The biggest cybersecurity threats in commercial real estate, and how to mitigate them
Coleman Wolf, Senior Security Systems Consultant with global engineering firm ESD, outlines the top-three cybersecurity threats to commercial and institutional building owners and property managers, and offers advice on how to deter and defend against hackers.
Sponsored | BIM and Information Technology | Jul 19, 2022
Why Autodesk Tandem is the best fit for your projects
Sponsored | Digital Twin | Jun 24, 2022
Pave the way for better business relationships with digital twins
Smart Buildings | Jun 1, 2022
Taking full advantage of smart building technology
Drew Deatherage of Crux Solutions discusses where owners and AEC firms could do better at optimizing smart technology in building design and operations.
AEC Tech | Apr 19, 2022
VDC maturity and the key to driving better, more predictable outcomes
While more stakeholders across the AEC value chain embrace the concept of virtual design and construction, what is driving the vastly different results that organizations achieve? The answer lies within an assessment of VDC maturity.