new delhi jul 16 hospitality firm oyo tuesday announced entry into a new vertical oyo workspaces targeting the coworking opportunity in india with an aim to have 50 centres across the country having a total seat count of around 35000 by the end of 2019 it also formally announced the acquisition of coworking firm innov8 during the year currently innov8 has 16 centres across the country with over 6000 seats while the companies did not disclose the financial details of the acquisition according to the sources in know of the matter innov8 was acquired for around usd 30 million about rs 205 crore the entire team of innov8 has also joined oyo as part of the deal the debut of oyo workspaces follows a multibrand approach with introduction of three brands innov8 which is an upper midscale brand powerstation a midscale brand and workflo which is an economy brand oyo workspaces will open the doors to 21 workspaces with over 15000 seats across more than 10 cities for 2019 we plan to have 50 centres that are operational across india with a total of around 35000 seats oyo new real estate businesses ceo rohit kapoor told when asked about the investment oyo will be making on the expansion he said the investment on this would be part of alreadyannounced rs 1400 crore investment for india and south asia for the year oyo workspaces is premised on the belief that there is a huge disconnect between demand and supply of quality managed coworking spaces kapoor said oyo workspaces uses technology and operational expertise to fix this problem he added while currently innov8 is the largest of three brands powerstation has one centre at gurugram with over 1000 seats and workflo has set up four centres across ncr hyderabad and bengaluru with over 1500 seats oyo said as part of its vision 2020 it plans to become the largest multibrand coworking space in asia this alliance will work towards simplifying and strengthening the coworking experience for indians while tapping the enormous opportunities this space offers innov8 founder ritesh malik said akt akt ruj hrs