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OYO acquires co-working space firm Innov8, to open 35 new offices

OYO spent between Rs 150 crore and Rs 200 crore for the acquisition

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Oyo Rooms

Karan Choudhury  |  New Delhi 

Diversifying from the hotel and long-term lodging business to co-working spaces, Ritesh Agarwal led OYO Hotels and Homes has acquired Innov8, according to sources close to the firm. Sources said OYO, which has more than $1.1 billion in its balance sheet, spent between ~150 crore and ~200 crore for the acquisition.

OYO aims to open more than 35 new co-working spaces in major metropolitans over the next one year, according to sources. OYO has also started two new co-working brands—PowerStation and WorkFlo, which will cater to a variety of start-ups and companies. Similar ...

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First Published: Thu, March 14 2019. 22:53 IST
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