Dallas-Based Flex Workspace Provider Common Desk to be Acquired by WeWork

Global shared workspace provider WeWork has announced the acquisition of Dallas-based flexible workspace provider Common Desk. The transaction is WeWork’s latest step on a path towards cost-efficient, strategic growth.

Founded in 2012, Common Desk has expanded its network to serve 4,000 customers at a total of 23 locations across 13 cities in Texas and North Carolina. Over the past decade, Common Desk has achieved disciplined growth through strategic management agreements with landlords that have enabled the company to perform at strong margins by minimizing capital expenditures. Within Common Desk’s existing portfolio, 19 of 23 locations are operated under management agreements.

The acquisition is subject to closing conditions and is expected to close in March, at which point Common Desk will operate under the name “Common Desk, a WeWork Company”.

“With an eye towards partners most aligned with our priorities, Common Desk presented itself as a sophisticated operator with a compelling approach to providing a top-notch member experience without sacrificing strong margins or an exceptional product,” said Sandeep Mathrani, CEO at WeWork. “On the heels of a strong year for our business, Common Desk’s operational expertise and portfolio of first-class space will further bolster our value proposition as we focus on strategic growth.”