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OYO acquired Innov8 co-working space provider in an all cash deal

Hospitality chain OYO has acquired Gurugram based co-working space provider startup Innov8 in an all-cash deal for Rs 220cr. The founders and investors of Innov8 have taken an exit while Innov8 founder Ritesh Malik will look after the company's expansion under OYO. The team of Innov8 will also remain intact. Innov8 was founded in 2015 and host 350 companies as members across its 15 co-working spaces.