Issue 9 2021

Acquisition International - Issue 9 2021 5 4 Acquisition International - Issue 9 2021 News : from around the world HubStar acquires space utilization solutions and workplace analytics leader Lone Rooftop MARLBOROUGH, USA & LONDON, UK Sept 23, 2021 – HubStar, an industry leader in next-generation workplace solutions, today announced it has acquired Lone Rooftop as part of its mission to accelerate the world’s transition to smarter ways of working. Since 2014, Amsterdam-based Lone Rooftop has developed solutions which enable a data-driven approach to optimizing real estate costs and workplace experience. “Lone Rooftop’s exceptional platform for measuring and improving space utilization will enhance our suite of workplace solutions for today’s hybrid, adaptive world of work,” said Steve Vatidis, Chairman, HubStar Group. “Now part of the HubStar family, this extraordinary team and technology will help us empower Corporate Real Estate and Facilities leaders to reduce costs, consolidate portfolios, transform employee experience and improve sustainability.” Investment, growth and innovation Lone Rooftop’s customer base, which includes blue chip enterprises and Higher Education establishments, can anticipate a bright and stable post- acquisition future for the enterprise software they use to manage their spaces and places. “HubStar’s investment in growth and innovation will bring next-generation capabilities to more organizations than ever. New and existing customers will benefit from advanced functionality that goes far beyond data, delivering actionable insights and continuous transformation.” concluded Vatidis. Auke van den Hout, Co-founder and Managing Partner at Lone Rooftop investor, Nimbus Ventures, said, “This move transforms the workplace market. Lone Rooftop and its clients are well positioned to benefit from this world-class combined team. HubStar is a market leader in this space, with an extremely experienced management team and the full resources and R&D expertise to continually provide direct and long-term value to clients. ” Post-lockdown hybrid working Adding Lone Rooftop’s advanced space utilization platform to the expanding HubStar Group, which includes space scheduling solution Smartway2, is a step forward in post lockdown corporate estate management. Hubstar is meeting its commitment to designing, building, selling and servicing technology platforms that deliver an ever-improving workplace experience in a hybrid working world. Many accountants in Saudi Arabia are in favour of providing tax incentives to help entrepreneurs move forward after suffering from the impact of the coronavirus pandemic, according to a new survey. The survey, which covered 8,000 respondents in the kingdom, New Zealand and other G20 countries, found that two-thirds (66 percent) were “strongly in favour” of using the “tax systems” to help small businesses and individuals recover from the effects of COVID-19. The study by the Association of Chartered Certified Accountants (ACCA), Chartered Accountants Australia and New Zealand (CA ANZ) and the International Federation of Accountants (IFA) was carried out in the first quarter of 2021. It follows two previous tax- related reports in 2017 and 2019. Key findings The latest research also found that 66 percent of the respondents believe that tax incentives would be appropriate to support efforts that tackle global concerns, such as climate change and retirement savings. “Tax policies to help address challenges such as climate change and ageing populations are no longer issues on the horizon, it’s here and now. Well-functioning tax systems and high levels of taxpayer trust backed by a robust account profession to design, implement and navigate the tax implications are vital as we look to shape a better future,” said Ainslie van Onselen, chief executive of CA ANZ. Other key findings of the study included insights on whether taxpayers in different countries felt they were paying a reasonable amount of tax. In Saudi Arabia,50 percent said they believe that high-income individuals in the kingdom paid a reasonable amount of tax, which is more than double the percentage paid across the G20 markets. More than half (54 percent) also agreed that local Saudi-based companies paid a reasonable amount of tax, while 57 percent thought this was the case for multinational companies. (Writing by Cleofe Maceda; editing by Seban Scaria) Accountants in Saudi Arabia favour tax incentives for businesses hit by COVID-19