Smartworks, a listed coworking major, has approved the acquisition of Singapore-based startup WorkStudio through its wholly owned Singapore subsidiary. The deal is expected to close by July, though financial terms have not been disclosed. WorkStudio, founded in 2024, operates a 26,000 sq ft flexible workspace and reported a turnover of ₹5.09 crore in FY26, according to inc42.com.
The acquisition was approved in principle by Smartworks’ board and is subject to the finalization of transaction documents. WorkStudio will become a step-down subsidiary of Smartworks after the deal closes. The startup provides flexible workspace solutions and managed office services, complementing Smartworks’ existing operations in Singapore. One of Smartworks’ promoters holds an interest in WorkStudio, adding a strategic dimension to the deal.
This acquisition will expand Smartworks’ Singapore portfolio to four centres totaling about 76,000 sq ft, reinforcing its presence in a key international business hub. The move aims to enhance Smartworks’ ability to serve enterprise clients and support long-term growth in Asia. The deal follows Smartworks’ recent efforts to double down on the Singapore market, reflecting broader trends of coworking space consolidation in the region.
Upon completion of the acquisition, Smartworks’ Singapore footprint will grow significantly, positioning the company to better compete in the flexible workspace sector. The transaction is expected to close by July, marking a notable expansion milestone for the coworking major in Southeast Asia.