Regus Owner IWG Buys Majority Stake in Office Startup The Wing

IWG Plc has bought a stake in female focused co-working startup The Wing, as it looks to take advantage of the pandemic fallout to snap up smaller rivals.

Switzerland-based IWG, which pioneered flexible offices more than 30-years ago under the Regus brand, has injected an undisclosed sum into the company to facilitate its growth, according to an emailed statement Thursday. The deal gives IWG a majority stake in the New York based startup, people familiar with the terms said, asking not to be identified as the details aren’t public.