IWG, the world’s largest operator of flexible workspaces, has completed its acquisition of Wojo, France’s best-known homegrown coworking brand marking one of the most significant consolidation moves in the European flex market this year.
The deal in brief
The acquisition received approval from the French Competition Authority before completing. IWG takes over Wojo from its joint owners: Bouygues Immobilier, one of France’s largest property developers, and Accor, the Paris-headquartered hospitality giant. Financial terms have not been disclosed.
With this single transaction, IWG’s operated network in France grows to approximately 157 flexible workspace centres cementing its position as the undisputed market leader in the country. Beyond the owned locations, the deal also brings IWG access to Wojo’s extensive hospitality-linked network: hundreds of partner workspaces housed within Accor properties across France and other European destinations. In total, the acquisition adds approximately 186 locations to IWG’s global portfolio, taking its worldwide signed location count to more than 6,000 across over 120 countries.
Who is Wojo?
Wojo has a relatively short but eventful history. The company was founded in 2015 as a joint venture between Bouygues Immobilier and Accor, initially operating under the Nextdoor name. In 2019, it underwent a full rebrand to Wojo a name designed to signal a more dynamic, hospitality-inflected approach to coworking.
By the time of the acquisition, Wojo had grown to 17 dedicated coworking and flexible office locations across France, covering close to 100,000 square metres of workspace. Its sites span some of France’s most commercially active cities and business districts: Paris, Lyon, Lille, Bordeaux, Brest, La Défense, and Issy-les-Moulineaux. The company serves more than 900 companies a diverse client base ranging from independent freelancers to established corporate teams.
What set Wojo apart was its deep connection to the hospitality world. Accor’s involvement meant that Wojo members could work not just from dedicated Wojo locations but from workspaces embedded in Accor hotels throughout Europe. This model blending coworking with the accessibility and amenities of hotel hospitality gave Wojo a distinctive offering that pure-play coworking brands found difficult to replicate.
IWG’s acquisition strategy: buy, not just build
For IWG, the Wojo deal is the latest move in a deliberate pattern of growth through targeted acquisition. Earlier this year, the company completed its purchase of Design Offices, one of Germany’s most prominent flexible workspace operators. The Wojo deal follows the same playbook: identify a well-positioned regional operator with strong local brand recognition, acquire it, and integrate it into IWG’s global network while retaining the original brand’s identity and client relationships.
This strategy carries clear advantages. Acquiring an established operator is significantly faster than building new sites from scratch, it reduces the risk associated with entering a competitive local market, and it allows IWG to inherit an existing customer base rather than having to build one organically.
France was already a well-established market for IWG the company operates dozens of locations there under the Regus, Spaces, HQ, Signature, Stop & Work, and Factories brands. But the Wojo acquisition elevates that presence to a different level, giving IWG unmatched density in a country where demand for hybrid working solutions continues to grow.
What the deal means for the European flex Market
The acquisition sends a clear message to the wider flex workspace industry: consolidation is accelerating. The European market, long defined by a mix of global operators, national champions, and independent local players, is increasingly shifting toward scale.
For IWG, Europe remains strategically critical. The combination of Wojo’s hospitality-linked network, its premium city-centre locations, and its Accor-sourced partner sites gives IWG a qualitatively richer product particularly for clients who travel frequently across the continent and want workspace access woven into their hotel stays.
For competitors, the deal raises the bar. Smaller regional operators will need to consider whether they can keep pace with a company that is simultaneously growing organically and absorbing established local brands. The 6,000-location global network IWG now commands is increasingly difficult to rival at scale.
Looking ahead
How Wojo is integrated into the IWG family over the coming years will be one of the more interesting stories to watch in European flex. Wojo has built a distinct identity warmer, more hospitality-driven than the corporate associations that still cling to Regus and how IWG manages that brand will say a great deal about its long-term vision for the region.
For existing Wojo clients, little is likely to change in the near term: locations will continue operating as before, and access to the Accor partner network remains part of the proposition. But as integration matures, the opportunity to combine Wojo’s local French expertise with IWG’s global infrastructure and technology platforms could produce a genuinely compelling offer for businesses operating across France and Europe.
One thing is clear: in the flexible workspace market, scale, network, and brand are the battlegrounds and IWG just strengthened its position on all three.
