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Aya Lin · · 1 min readIn brief: Oyo buys Innov8 for $30m as it enters the workspace market
- Indian hospitality chain Oyo has bought local co-working startup Innov8 as it ventures into the commercial real estate business under the brand Oyo Workspaces, Reuters reported.
- Oyo will acquire Innov8 for US$30 million in an all-stock deal, according to a person with knowledge of the matter.
- Oyo said that Oyo Workspaces will open over 21 shared workspaces in more than 10 cities across India and will expand to over 50 centers by the end of the year.
Editing by Charmaine de Lazo
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