IWG also will receive a fee for providing services to its Japanese partner, such as international sales, marketing and technology support. IWG ’s sale of its Japanese business to TKP marks a major shift towards its new franchising business model, according to IWG . Conference room and banqueting hall provider TKP, which operates 249 sites across Japan , is paying £ 320 m in cash for IWG ’s network of more than 130 co-working centres, plus a long-term franchising licence that gives it exclusive rights to use IWG ’s brands in the country. Mark Dixon , The Times ’s CEO and largest shareholder will join the board of TKP as a TKP . He said the transaction realises an attractive valuation for the company’s shareholders and that franchising played an increasingly important role in the group’s strategy.
IWG ’s sale of its Japanese business to TKP marks a major shift towards its new franchising business model, according to IWG . Conference room and banqueting hall provider TKP, which operates 249 sites across Japan , is paying £ 320 m in cash for IWG ’s network of more than 130 co-working centres, plus a long-term franchising licence that gives it exclusive rights to use IWG ’s brands in the country. Mark Dixon , The Times ’s CEO and largest shareholder will join the board of TKP as a TKP . He said the transaction realises an attractive valuation for the company’s shareholders and that franchising played an increasingly important role in the group’s strategy.