SYDNEY: Scalare Partners (ASX: SCP) has agreed to acquire Tank Stream Labs, one of Australia’s leading flexible workspace and service providers for tech startups, in a $5.5 million deal aimed at expanding Scalare’s footprint in the early-stage technology ecosystem.
Under the terms of the agreement, Scalare will pay $3 million in cash and issue $1.5 million in escrowed ordinary shares, with an additional $1 million in deferred consideration tied to FY2026 profitability milestones. Pending shareholder approval for the capital raise, the transaction is expected to close in the coming weeks.
Tank Stream Labs, led by CEO Bradley Delamare, operates seven locations across Sydney, Melbourne and Adelaide, and serves more than 200 technology companies spanning sectors like fintech, edtech, AI, and healthtech. Delamare will remain in his role to steer growth efforts within the Scalare ecosystem.
Scalare CEO Carolyn Breeze said the acquisition enhances the company’s strategic position and enables deeper engagement with tech founders through integrated support services, accelerators, and investment opportunities.
“TSL’s premium workspaces and strong founder community closely align with our mission to empower entrepreneurs throughout their journey,” Breeze said.
This marks Scalare’s fourth acquisition since 2023, following Inhouse Ventures, Tech Ready Women, and the Australian Technologies Competition.
Tank Stream posted estimated revenues of $12.1 million in FY2025 and expects EBITDA-positive results in FY2026. The move is part of Scalare’s broader plan to consolidate services across the tech startup landscape, fueling innovation and commercialization.