Coworking space firm BHIVE has strengthened its support for the rapidly expanding coworking and fintech industries by acquiring product-engineering company Praemenio.
The deal is made up of a hybrid structure that includes equity and cash. Co-founders Rohit Parab and Gaurav Gandhi will join BHIVE as part of this acquisition, bringing with them a 10-person team to assist with company leadership and growth at BHIVE Group.
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Shesh Rao Paplikar, Founder & CEO of BHIVE Group said, “As a new age organisation, BHIVE is always on the lookout to identify occupiers’ pain points and solve it through our business and technology offerings while joining hands with companies in the ecosystem where we find synergies. In this endeavour, we are pleased to welcome Praemenio’s team to our family with our first acquihire as we further strengthen our business management with their state-of-the-art solutions. This becomes important to manage our ever-growing portfolio of 1.5 million square feet of coworking space across 25 locations in Bengaluru.”
BHIVE will benefit from the acquisition in the following areas: financial management, processing of approvals, identification of issues to lead generation, and comprehension of decision-making procedures, as reported by The Economic Times.
Rohit Parab and Gaurav Gandhi, Co-Founders of Praemenio said, “BHIVE is a pioneer in the coworking space with their slew of offerings making them the preferred partner for occupiers’ office needs. With an ever-expanding portfolio of coworking spaces across Bengaluru, it becomes imperative to efficiently manage the various associated activities related to the business which is where the Praemenio team will play an active role”.
About BHIVE Group
By combining investment platforms with commercial real estate (CRE) in an all-encompassing manner, the BHIVE Group empowers investors and business owners for a more promising future. BHIVE Workspace, BHIVE Alts, and BHIVE Capital are located there!
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