China co-working space operators UrWork, New Space merge
UrWork, a Chinese VC-backed co-working office space provider, has agreed to merge with its industry peer New Space. The combined entity will be worth RMB9 billion ($1.3 billion).
It is said to be the first merger in China's co-working space market. UrWork and New Space have set up a joint holding company, but both parties will maintain their independent status and management structures...
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