On March 26, 2018, UCOMMUNE and WEDO Union jointly
announced that the parties had entered into a memorandum of understanding on strategic
merger and would complete the follow-up procedures in the coming month. After
the consummation of the deal, UCOMMUNE will work with WEDO Union to create the
first sharing office platform in Guangdong-Hong Kong-Macao Greater Bay Area
with a base in Shenzhen, and facilitate the healthy growth of the innovative
economy in Guangdong-Hong Kong-Macao Greater Bay Area.
Following the acquisition of WOO SPACE by UCOMMUNE,
the team led by Yan Penghe, a senior partner of ZhongYin (Beijing), once again
represented UCOMMUNE exclusively on further acquisition. The team, which has
extensive experience in M&A in the sharing office industry, found and
analyzed common bottlenecks and difficulties in this industry in a short time,
helped both parties identify the legal risks in the deal, and provided
solutions to them.
As a leader in China's sharing office industry,
UCOMMUNE has officially completed its C-round capital raising, with a valuation
of nearly 11 billion yuan. It has built 160 sharing offices in 35 cities around
the world and is still further expanding its influence as an independent school
in the sharing office industry. UCOMMUNE has completed the M&A of two
famous sharing office operators. It acquired 100% equity in NewSpace on January
3, 2018, and acquired WOO SPACE on March 9, 2018, realizing real mega-merger in line with the
development trend of the industry. The acquisition of WEDO Union was the third
M&A conducted by UCOMMUNE in 2018.
WEDO Union is a national co-working space, and it is
also the NEEQ start-up incubator established by Xue Manzi, one of the top 10
sharing-office brand in China, and one of the first exemplary co-working spaces
After the acquisition, UCOMMUNE will continue to
spread its strategic layout in South China, create deeper links over South
China with its global high-quality resources, strive to create a big brand in
the sharing office industry in Guangdong-Hong Kong-Macao Greater Bay Area, and jointly empower the Chinese innovators.