M-WORK acquired by ASYS
Context
The acquisition of m-work shifts Asys’s product perimeter from legacy time-and-attendance tracking into upstream collaborative workforce scheduling and hybrid physical asset optimization. Executed with follow-on programmatic M&A backing from CAPZA through its Growth Tech investment vehicle, this transaction accelerates Asys’s product roadmap by injecting native AI capabilities into its core scheduling engine to target pan-European corporate accounts. The industrial logic relies on immediate cross-sell dynamics, unlocking monetization opportunities for m-work’s module within Asys's established footprint of 1.5 million users while expanding the group's total addressable market into the corporate real estate stack. The transaction ensures management continuity, with co-founders Joséphine de Leusse and Édouard Bouyala remaining operational heads to integrate the platforms, while post-closing capital allocation will prioritize the release of a single unified SaaS platform that fuses employee scheduling data with commercial space analytics.
M-WORK, which reported an EBITDA margin of LOGIN in 2025, is valued in this transaction at an EV/EBITDA multiple of LOGIN, a level to compare with the average currently observed in the TMT (Tech, Media, Telecom) sector (14.8x).
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Target
m-work operates a business-to-business workplace optimization SaaS platform engineered to coordinate hybrid team schedules, manage flexible office capacity, and streamline decentralized employee attendance. The company monentizes its software through predictable multi-seat enterprise subscription models, charging corporate accounts based on user volume or managed real estate footprint parameters to insulate cash flows from macro economic cycling. Corporate procurement teams and human resource departments adopt the platform to mitigate the organizational friction, communication breakdowns, and real estate inefficiencies associated with hybrid working models and desk-sharing protocols. The core operating asset is an AI-driven scheduling and space-allocation engine that maps office utilization metrics to automate layout planning and reduce commercial real estate overheads for clients. The operational model features low customer acquisition costs relative to lifetime value, driven by native API integrations into enterprise messaging systems and legacy human capital management workflows, which facilitates high gross margin expansion as the business scales.
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Historical Financials (EUR)
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REFERENCES
Revenue range: 0M - 5M EUR
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Authors: verified mynth contributor (mynth data is contributed by M&A / PE professionals and systematically cross-verified with private deal documents and official press releases).
Press release: view release
Target: m-work
Acquirer: asys