05 Dec YBF Acquires Teamsquare, Increasing its CBD footprint five-fold
YBF is proud to announce its acquisition of serviced co-working space, Teamsquare. The acquisition increases YBF’s Melbourne CBD footprint by more than five times and further solidifies its place as Australia’s number one platform for open innovation – a place that trailblazing technology startups, scaleups, corporates and investors come together in, to drive Australia’s technology industry forward on a global scale.
PREPARING FOR GLOBAL EXPANSION
The 3,100 square-metre Teamsquare space currently houses a number of businesses across three floors, which will be absorbed into the broader YBF population. The move enables YBF to expand its mission of growing and evolving Australia’s technology community.
YBF’s recently appointed CEO, Farley Blackman, who initiated and orchestrated the acquisition over his first several weeks at the organisation says, “Growth and innovation is as important for us as it is for the startups, scaleups and corporates that we enable. Expanding in Melbourne, our hometown, was an obvious focus and our new space will allow us to continue playing our role in Victoria and across Australia as we work toward keeping Australia competitive and on the cutting edge of technology, globally. YBF has entered a new phase and this is the first step as we execute on our longer-term, global expansion.”
COMBINED STRENGTH OF YBF AND TEAMSQUARE IS A WIN-WIN
Michael Shimmins, Co-founder & CEO of Teamsquare says, “We’ve had our eye on YBF for years and have always admired their ethos and commitment to Australia’s tech industry. When their CEO, Farley Blackman approached us about acquiring Teamsquare to further YBF’s agenda, we were really excited about the prospect and knew it would be a multi-faceted win. We’re thrilled that the acquisition went through, and know both YBF and Teamsquare’s customers will benefit from the combined strengths of both businesses and will be in good hands.”
Located at 520 Bourke Street, the bluestone building stays true to YBF’s predilection for heritage (YBF is currently situated in the 1850s building, which formerly housed the actual York Butter Factory – where the name is derived from). Mr Blackman continues, “Heritage has always been important to YBF and building upon what has made it special, including the juxtaposition of old and new – a future-facing hub of innovation, situated in a building that was part of Australia’s first industrial revolution – provides a unique experience for our stakeholders in a crowded field of high-rise shells.” He adds, “It’s with great excitement that we relocate from a former butter factory to a former wool warehouse.”
YBF IS A LEADER IN TECHNOLOGY AND INNOVATION
Mike Smith, YBF’s Chairman states, “Farley and his team have done a great job of actuating and completing this acquisition, which further cements YBF as a leader in enabling Australian tech to innovate. This acquisition signals our commitment to Victoria, while providing a springboard to international growth.”
The new YBF offices will have a number of enhancements over its current space, including a large dedicated events’ space (YBF holds over 250 tech-focused talks, seminars and events annually); bike storage; shower rooms; phone booths; a first aid room and a baby care room.
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