View Acquires RXR Realty’s WorxWell™ Platform to Create an Industry-Leading Office Real Estate Technology Offering
December 07 2021 - 7:00AM
View, Inc. (NASDAQ: VIEW) (“View”), the leader in smart building
technologies, today announced it has entered into a strategic
agreement with RXR Realty to combine RXR’s WorxWell™ data analytics
platform into its broader technology stack.
Formerly known as RxWell™, WorxWell’s award-winning, data
analytics platform aggregates all building data including
occupancy, space usage, digital collaboration and work patterns,
access control, air quality, temperature, and environmental factors
into a consolidated dashboard to optimize every aspect of building
operations and workplace experience for both building owners and
occupiers. It also offers tools and mobile apps that put employee
health and safety, security, space utilization, hybrid work
analyses, employee experience and engagement, ESG optimization and
compliance, operational information, and more in the hands of
building managers and tenants. WorxWell is currently deployed in 25
million square feet of office buildings.
View has built a converged, enterprise-grade, secure network
that serves as the platform for smart buildings; View also offers
infrastructure security software, machine-learning enabled smart
sensors and analytics, and products to enhance user health and
experience, energy savings, and operational efficiency in
buildings. Acquiring WorxWell enables View to provide an
integrated, end-to-end technology and product stack that seamlessly
brings together software, sensors, and data from View and third
parties, into a unified platform, so real estate owners and
enterprise customers can use data to effectively and efficiently
respond to changing trends in real estate, such as hybrid work,
health and wellness, and sustainability.
“Real estate owners and tenants are embracing technology to
deliver better occupant experiences, improved health, lower carbon
emissions, and superior business outcomes,” said Dr. Rao Mulpuri,
CEO of View. “We are excited to partner with RXR to bring together
the best of both companies – RXR’s real estate expertise and tenant
insights and View’s deep technology and product development
expertise – to make buildings healthier, more energy efficient,
more adaptable to user needs, and lower cost to operate.”
“View has built the industry’s most comprehensive technology
stack to drive the digital transformation of real estate. We
created WorxWell to re-invent the office experience and we see this
partnership with View as the fastest way to take the product to the
next level and ensure that our buildings and customers will always
have the latest and greatest technological advances,” said Scott
Rechler, Chairman and CEO of RXR Realty. “Working together with
View, we will combine our in-depth knowledge of the space with
real-time tenant feedback to keep WorxWell on the vanguard of
creating transformational experiences for our customers and driving
the digitization of real estate.”
This transaction follows View’s acquisition earlier this year of
IoTium, a leading provider of secure, cloud-managed,
software-defined IoT networks. Through these acquisitions, View
continues to expand its offerings to provide a full technology
stack for smart buildings.
About ViewView is the leader in smart building
technologies that transform buildings to improve human health and
experience, reduce energy consumption and carbon emissions, and
generate additional revenue for building owners. View Smart Windows
use artificial intelligence to automatically adjust in response to
the sun, increasing access to natural light and unobstructed views
while eliminating the need for blinds and minimizing heat and
glare. Every View installation includes a cloud-connected smart
building platform that can easily be extended to reimagine the
occupant experience. View is installed and designed into over 90
million square feet of buildings including offices, hospitals,
airports, educational facilities, hotels, and multi-family
residences. For more information, please visit: www.view.com.
About RXR RealtyHeadquartered in New York with
a national platform strategy, RXR Realty LLC (“RXR”) is a 500+
person, vertically integrated real estate operating and development
company with expertise in a wide array of value creation
activities, including ground up real estate development, uncovering
value in underperforming properties, repurposing well-located
iconic properties, incorporating cutting edge real estate
technologies and value-added lending. The RXR platform manages 73
commercial real estate properties and investments with an aggregate
gross asset value of $21.0 billion, comprising approximately 26.8
million square feet of commercial properties, a multi-family
residential portfolio of approximately 4,200 units under operation
or development, and control of development rights for an additional
approximately 2,900 multi-family and for sale units as of June 30,
2021. Gross asset value compiled by RXR Realty in accordance with
company fair value measurement policy and is comprised of capital
invested by RXR and its partners, as well as leverage. For
more information, please visit: www.rxrrealty.com.
Contacts:
For Investors: IR@View.comSamuel
Meehan408-493-1358
For Media:TrebleKatie
LeChaseview@treblepr.com
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