BANGALORE, India — Gensler and Space Matrix announce today that Gensler will acquire the 50 percent stake of Studio-I from Space Matrix for an undisclosed sum, assuming full ownership of Studio-I, which was jointly created in 2008 by the companies as an architectural and interior design Knowledge Process Outsourcing (KPO) firm. Since its founding, Studio-I has provided a competitive edge for design and documentation services on workplace, retail and other projects for Gensler’s 41 offices around the world. This ownership transition is the next step in Gensler’s strategy to launch a fully functional office in Bangalore.
“Together with our Space Matrix partners, we originally established Studio-I as a build-operate transfer,” said Gensler Managing Principal Dan Winey. “We’re delighted that Studio-I, after three years of successful joint ownership, is transitioning to become a wholly owned Gensler practice.”
Space Matrix Chief Executive Officer Anurag Srivastava said: “With the success of Studio-I, we are excited to transition Studio-I from a Gensler-Space Matrix JV to a fully owned Gensler company. Several engineering and professional services KPO’s, such as mechanical or legal LPO’s, had done this successfully in India, but Studio-I has proven the KPO model in the architecture space.”
The Studio-I team will continue to provide support to Gensler’s other offices and will gradually build its design and delivery capabilities in India over the next year. Gensler and Space Matrix will remain strategic partners, collaborating on select projects in India and Southeast Asia.
“The Studio-I evolution deepens our ability to serve our growing international client base,” said Winey. “In addition, our team in Bangalore will benefit from increased learning and collaboration opportunities with Gensler’s more than 3,000 employees around the world.”
About Space Matrix
Founded in 2001, Space Matrix is a cutting-edge architecture and interior design firm in Asia-Pacific with 11 offices and over 500 staff. The firm’s integrated service model offers expertise across a variety of disciplines in the industry. The firm partners with clients from around the world to create timeless environments that inspire, engage and at the same time are highly functional. Space Matrix addresses a full project range including: civic, commercial, education, healthcare, hospitality, residential, transport and workplace design and architecture.
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