Washington Business Journal: Philadelphia co-working company is finalizing a deal to absorb 1776
Philadelphia-based co-working company Benjamin’s Desk is finalizing a deal to absorb D.C.-based incubator 1776, according to sources familiar with the situation — though, 1776 denies any such talks are in place.
The deal, first reported by local tech executive coach Glen Hellman, is expected to close in October, according to multiple sources close to the transaction but not authorized to speak on the record. If the deal closes, sources said, some investors from Benjamin’s Desk and 1776 would put more money into the combined company. Benjamin’s Desk would also get to keep — and use — the 1776 brand, according to a source with knowledge of the transaction.