12th Nov 2019 12:05
(Alliance News) - Symphony International Holdings Ltd on Tuesday said it has, through a subsidiary, invested in Smarten Spaces Pte Ltd, a space management software provider.
Symphony said it has secured a minority position in Smarten Spaces, which will represent less than 5% of Symphony's net asset value.
The investment company said Smarten Spaces has developed a platform with over thirty microservices that clients select from, to manage a variety of functions that include building access control, reservation of conference rooms and individual workstations, room temperature and lighting, co-working and co-living spaces, F&B services, and community bulletin boards.
"We are very excited about our partnership with, and investment from, Symphony which will help us provide more innovations to our customers and scale globally," said Smarten Spaces Chief Executive Dinesh Malkani.
"This is our first investment in a software-as-a-service company and we are looking forward to working with Dinesh and his team to grow the business, especially in the real estate and hospitality industries where we have deep connections and significant investment experience," said Anil Thadani, director of Symphony.
Symphony shares were trading 2.1% lower in London on Tuesday at USD0.58 each.
By Evelina Grecenko; [email protected]
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