Co-working giant Ucommune completes its 7th acquisition this year

China’s co-working giant and WeWork’s fiercest rival in this area has acquired its seventh company this year. Ucommune has finalized the acquisition with co-working space Fountown (方糖小镇) on October 17, our sister site is reporting (in Chinese). The company is already Asia’s largest coworking entity.

Under the agreement, Ucommune will be fully merged with Fountown’s 26 co-working spaces in Shanghai and Beijing. Beijing-based investment firm CEC Capital served as the exclusive financial advisor to Ucommune on this acquisition deal. The company did not reveal the value of the deal.

Ucommune—which rebranded from UrWork following a legal battle with WeWork over a “confusingly similar” name—was founded in 2015. The company was valued at $1.8 billion after raising $43.5 million in Series C funding round in August.

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