Why WeWork Acquired Waltz

By Noah Long ● June 30, 2019
  • WeWork recently acquired mobile access control expert Waltz
  • These are the details behind the deal.

Recently, WeWork announced that it is acquiring mobile access control expert Waltz. With the acquisition, the two companies are going to bolster their ability to provide enterprises with seamless access to workspaces around the world. The terms of the deal were undisclosed.

Offering flexible access to workspaces has been the core of WeWork’s businesses. For example, they have worked with large companies around the world like GE Healthcare in Seoul and Microsoft in New York City to give their employees the flexibility to work out of any WeWork in their city, country, or the world.

And WeWork’s on-demand memberships help organizations expand their global footprint and provide employees with unlimited access to spaces and communities around the globe. And the key to supporting on-demand memberships is the ability to provide each member with a single global credential connecting people with space everywhere.

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WeWork’s acquisition of Waltz is the company’s next step to building a physical access platform for its global membership. Waltz has deep expertise in mobile access and system integrations and has one of the most advanced and sophisticated products for providing a single credential to members in order to help better connect them to spaces.

Waltz has developed a mobile app and reader that makes it easy for employees and guests to securely enter buildings and offices. This technology helps WeWork provide seamless access for members across spaces and in locations around the world.

“Our technology team is focused on global access control in order to provide our members with a frictionless experience from curb to office,” said WeWork CTO Shiva Rajaraman in a statement. “Waltz’s incredible team and technology will allow us to broaden our access capabilities, giving members and guests an enhanced experience across our global platform. We are extremely excited to welcome the Waltz team to WeWork.”

Waltz CEO Matt Kopel founded the company in 2015 with employees based in New York and Montreal. And with this deal, Waltz will become completely integrated within WeWork and continue to maintain its current customer base.

“Waltz was founded with the mission to reduce friction in the physical world through a single credential to access buildings and more,” added Kopel. “WeWork has created a truly global platform, and we’re thrilled to join with them in realizing our vision by deploying our technology solutions in the built world.”

This past year, WeWork acquired a number of companies. Some of the companies WeWork acquired include Teem, Managed by Q, and Euclid.