Smartworks Coworking Spaces to acquire 100% of WorkStudio Spaces in Singapore

What Smartworks announced

On 25 June 2026, Smartworks Coworking Spaces Ltd filed an intimation under Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, informing the stock exchanges that its wholly‑owned subsidiary, Smartworks Space Pte. Ltd, will acquire 100 % of WorkStudio Spaces Pte. Ltd, a Singapore‑based flex‑space provider. The acquisition will be effected on a cash basis and, upon completion, WorkStudio will become a step‑down subsidiary of Smartworks.

The Audit Committee approved the transaction in its meeting on the same day, and the Board of Directors took note of the proposal. The company has indicated that the transaction is expected to be completed within July 2026, subject to the execution of the requisite documents and any standard approvals.

"The acquisition aims to strengthen Smartworks’ presence in Singapore by expanding its coworking and flex space portfolio in a key international business hub." – Smartworks Coworking Spaces Ltd filing

Details of the acquisition

• Target entity: WorkStudio Spaces Pte. Ltd, Singapore, operating as a flex‑space provider.
• Acquirer: Smartworks Space Pte. Ltd, a wholly‑owned subsidiary of Smartworks Coworking Spaces Ltd.
• Transaction structure: 100 % share acquisition through the subsidiary, cash consideration. The exact cash amount has not been disclosed as the deal is still under negotiation.
• Related‑party nature: The filing states that an immediate relative of one of Smartworks’ directors (who is also a promoter) holds an interest in the holding company of the target. The transaction is nonetheless being carried out on an arm‑length basis.
• Regulatory approvals: No specific governmental or regulatory approvals are required for the acquisition.
• Timeline: Expected to close in July 2026, pending standard approvals and execution of transaction documents.
• Post‑transaction status: WorkStudio will become a step‑down subsidiary, meaning Smartworks will own the subsidiary that, in turn, owns WorkStudio.

Strategic rationale

Smartworks highlighted that the acquisition will double its Singapore footprint. Currently, the company operates two centres in Singapore; after the deal, the total number of centres will rise to four, covering approximately 76,000 square feet of coworking and flex space. This expansion is intended to:

1. Enhance market presence – Singapore is a major international business hub, and a larger portfolio positions Smartworks to capture a greater share of enterprise‑level demand.
2. Broaden service offering – The added centres will allow Smartworks to serve a wider range of client sizes and industries, complementing its existing portfolio.
3. Support long‑term growth in Asia – By consolidating its position in Singapore, Smartworks aims to create a platform for further regional expansion.

The filing does not indicate that the target’s business lies outside Smartworks’ main line of business; both entities operate in the coworking/flex‑space sector, suggesting strategic fit rather than diversification.

Key facts at a glance

Why this matters for investors

The acquisition does not involve the issuance of new shares, so there is no immediate dilution of existing shareholders. However, the cash outflow will reduce the company’s cash reserves until the transaction is settled. Because the deal is a related‑party transaction, investors may scrutinise the pricing and terms once the final purchase price is disclosed. The step‑down subsidiary structure means that Smartworks will not directly own WorkStudio, but will control it through its subsidiary, which could affect the consolidation of financial results and the visibility of the new assets in the company’s balance sheet.

From a strategic perspective, the expansion in Singapore strengthens Smartworks’ international footprint and could improve its ability to win larger enterprise contracts, especially in a market known for high‑value multinational tenants. The lack of required regulatory approvals suggests a relatively smooth execution path, but the finalisation still depends on standard closing conditions and the negotiation of the purchase price.

Conclusion

Smartworks Coworking Spaces Ltd has announced a cash acquisition of 100 % of WorkStudio Spaces Pte Ltd, to be completed by July 2026. The deal will double the company’s Singapore office space to roughly 76,000 sq ft and is being carried out as an arm‑length related‑party transaction. While the purchase price remains undisclosed, the acquisition is expected to enhance Smartworks’ market position in a key international hub without requiring additional regulatory clearances. Investors should monitor subsequent disclosures for the final consideration amount and any post‑closing integration updates.