Big acquisition news coming out of the Salt Lake Valley today: Teem has been acquired by WeWork.
“Teem has always had one goal in mind: to create an amazing workplace experience by eliminating hurdles to office productivity," said Teem co-founder/CEO Shaun Ritchie. "Through employee-focused technology solutions and analytics that bridge the physical and digital, we help companies recognize the reality of a great workplace. In joining WeWork, we have found a true partner to support our continued growth and scale as we look to serve many more enterprises around the globe.”
Teem will be acquired in its entirety and continue to operate as an independent business. The main change: Teem's technology (a software-as-a-service platform used by enterprises to optimize the workplace) will be incorporated into WeWork's offerings for enterprise clients, a group that includes GE, Microsoft, and Salesforce.
"Acquiring Teem means bringing in a talented group of over 100 people to help us create a better, more efficient workplace experience for enterprises around the globe," said WeWork Chief Product Officer Shiva Rajaraman. "We are committed to helping companies deliver an amazing employee experience everyday and everywhere. Teem moves us one step closer to that reality, and we are thrilled to welcome them into our WeWork family."
Teem CEO Shaun Ritchie wrote a two-part series for Silicon Slopes earlier this year to coincide with Silicon Slopes Tech Summit, examining the prospects of Salt Lake City as a tech center. You can read Part 1 and Part 2 here.