New York company buys Salt Lake-based Teem

Teem, a Salt Lake City-based provider of shared office and meeting space and online meeting software, has been acquired by WeWork of New York City. WeWork provides design services and technology for the office spaces of corporate clients.

WeWork said in a release that it is acquiring Teem in its entirety and that Teem will continue to operate as an independent business line while adding the WeWork service package to its product line. {mprestriction ids="1,3"}

WeWork was founded in 2010 and employs over 5,300 people. Teem, founded in Utah in 2012, has 100 employees.

“Teem has always had one goal in mind: to create an amazing workplace experience by eliminating hurdles to office productivity,” said Teem co-founder and CEO Shaun Ritchie. “Through employee-focused technology solutions and analytics that bridge the physical and digital, we help companies recognize the reality of a great workplace. In joining WeWork, we have found a true partner to support our continued growth and scale as we look to serve many more enterprises around the globe.”

“Acquiring Teem means bringing in a talented group of over 100 people to help us create a better, more efficient workplace experience for enterprises around the globe,” said Shiva Rajaraman, WeWork chief product officer. “We are committed to helping companies deliver an amazing employee experience every day and everywhere. Teem moves us one step closer to that reality, and we are thrilled to welcome them into our WeWork family.”{/mprestriction}