iOFFICE, an industry leader in next-generation workplace experience and asset management solutions, announced it has acquired Teem as part of a continuing effort to help companies of all sizes create connected workspace experiences that drive enhanced business outcomes. Since 2012, Salt Lake City-based Teem has been a leading developer of cloud-based meeting space solutions and workplace analytics created to help companies improve their workplace experience while optimizing their use of space.
“Teem’s superior expertise in meeting space solutions and workplace analytics will broaden our already dynamic suite of cloud-based solutions for the agile workforces of tomorrow,” said Mark Peterson, CEO, iOFFICE. “Now part of the rapidly growing iOFFICE family, Teem will help us empower companies to craft the ultimate workspace experience through employee-focused tools that enhance productivity, reduce costs and ultimately improve business outcomes.”
Employee expectations are evolving at a rapid pace and companies can no longer afford to ignore the direct correlation between key business performance benefits and creating a better office experience for their employees. Recent industry studies demonstrate that positive work environments result in more engaged employees and engaged employees exhibit more productive, high-performance behaviors.
“Teem’s mission has always been to enhance the employee workplace experience by streamlining workflows, improving efficiency and increasing productivity,” said Jeremy Smith, senior director of engineering, Teem. “Since day one, Teem’s main goal has centered around innovating new technologies that focus on driving optimal business results through real-time data and advanced, employee-driven technology solutions. It’s clear that both Teem and iOFFICE share the same passion for improving the connected workplace experience and we couldn’t be more thrilled to be joining one of the top companies in the industry.”
Teem serves over 3,500 companies globally. These clients range from small businesses to enterprise-level organizations such as GE, Airbnb, LinkedIn, and Viacom. Additionally, its platform has been integrated into many of today’s largest office products, including Office 365, Google, and Slack. Teem’s digital platform leverages a powerful suite of workplace solutions to ensure an organization’s people, places and technology are all working together seamlessly to connect and empower the office ecosystem.
“By combining the meeting space and analytics expertise of Teem with iOFFICE’s strengths in cloud-based and mobile solutions for enterprise workplace optimization, customers have market-leading solutions, and we have an even larger, more experienced world-class team in the workplace management industry to drive customer value,” said George Ahn, chairman of the board, iOFFICE. “This is how real growth and change happen in an industry, and this acquisition catalyzes that for the market.”
Additionally, Teem will continue to operate in Salt Lake City. Teem’s software will be integrated into iOFFICE’s existing portfolio of solutions.
“Traditional workplace systems were primarily created to manage buildings, not people, and the current market demands a transformation,” continued Peterson. “A survey from McKinsey & Company reported 80% of executives believe digital social collaboration technologies are the most important tool for their employees and organization overall. This is where the newly combined vision of iOFFICE and Teem aims to intercede — offering a more comprehensive, cutting edge suite of offerings; allowing customers to exceed their employees’ ever-changing expectations of the workplace experience to drive business success.”
“Teem has helped eliminate hurdles to office productivity for thousands for companies, and we look forward to seeing the innovative solutions Teem and iOFFICE will create to transform the workplace experience for the better,” said Sebastian Gunningham, co-CEO, WeWork. “The successful divestiture of Teem is another step forward in WeWork’s strategy to renew our focus on our core workspace business.”