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
Smart Buildings | Oct 26, 2020
World’s first smart building assessment and rating program released
The SPIRE Smart Building Program will help building owners and operators make better investment decisions, improve tenant satisfaction, and increase asset value.
BIM and Information Technology | Oct 8, 2020
4 challenges of realizing BIM's value for an owner
In recent years, we have found our consulting practice engaging more and more with owners that are questioning the value of BIM and how they can make use of potentially data-rich BIM assets.
AEC Tech | Feb 5, 2020
BIM London: A glimpse of BIM discussions across the pond
Digital twin, ISO standards, blockchain, and data were the hot topics at the recent The Digital World: BIM event.
Building Technology | Mar 6, 2019
Australia’s prefab construction sector is trying to break out from its 'getting there' stage
A paper by Deloitte looks back at an origin case study. But the country has yet to develop a fully formed industry.
BIM and Information Technology | Jan 18, 2019
BIM: Sharing is caring
Sharing of and reliance on BIM data is central to the idea that BIM will lead to a more efficient, more economical, and more collaborative construction process.
BIM and Information Technology | Jan 10, 2019
'BIM to AR' comes to the masses
Could new technology that simplifies the transfer of BIM models to augmented reality push AEC firms to go all in on extended reality?
Building Technology | Dec 20, 2018
Autodesk is spending $1.15 billion to acquire two construction tech providers
PlanGrid and BuildingConnected are the latest pieces in the company’s quest to digitize the construction industry.
Building Technology | Dec 18, 2018
Data and analytics are becoming essential for EC firms competing to rebuild America’s infrastructure
A new paper from Deloitte Consulting advises companies to revise their strategies with an eye toward leveraging advanced technologies.
Sponsored | BIM and Information Technology | Oct 15, 2018
3D scanning data provides solutions for challenging tilt-up panel casino project
At the top of the list of challenges for the Sandia project was that the building’s walls were being constructed entirely of tilt-up panels, complicating the ability to locate rebar in event future sleeves or penetrations would need to be created.
BIM and Information Technology | Aug 16, 2018
Say 'Hello' to erudite machines
Machine learning represents a new frontier in the AEC industry that will help designers create buildings that are more efficient than ever before.