Witco, providers of a workplace app, has acquired SharingCloud, a specialist in workspace management.
image: Eliane Lugassy, founder and CEO of Witco
With a team of 120 employees, the new combined entity will continue to provide for 750 customers worldwide and is expected to generate revenue of approximately 15 million euros in 2024.
These two historical players were founded in 2010 and 2016. Where Witco's approach has mainly been focused on building a workplace app towards a seamless employee experience – with 50 modules and 100+ third-party integrations, ranging from room booking and hybrid work, to on-site services and building technologies – SharingCloud has mainly established itself in the meeting rooms management market enhancing its offering with AV equipment, digital signage and visitor self-check-in tablets.
The acquisition will also allow Witco to develop its international distribution network even further through its now 200 certified partners (resellers/integrators, tech partners and consulting firms) spread around the world.
The deal comes just a few months after the takeover of District Technologies customers - a competing company in the UK market. In 2020, Witco also transitioned the clients of CoWork.io.
“We are delighted with this acquisition, which confirms our position as a leader in a rapidly evolving market, allowing us to expand our functional coverage and offer an end-to-end solution to our clients who want to provide user friendly tools to their employees," says Eliane Lugassy, founder and CEO of Witco.