A New Age of Construction Solutions

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A New Age of Construction Solutions

“Technologies that fully adopt the tenets of Industry 4.0 provide us the opportunity to take our digitalized content and integrate them with industrialized processes to revolutionize the construction industry.” - Mickey Carr, CTO

A New Age of Construction Solutions

Founded in the 1961, RIB Software continues to be a stalwart in the architecture, engineering, and construction (AEC) industry. In an interview with CIO Applications, Mickey A. Carr, CTO of RIB Americas, discusses the journey of the company, driving strategy, and the value addition they bring to clients across the industry.

What are some of the pain-points in the construction technology space that trouble the industry personnel?

Traditionally, technology companies have not been able to provide solutions that cover the full construction lifecycle. Technology providers created niche solutions that do one part of it: estimation, project management, or controlling, for example. Organizations utilizing these niche solutions do not have the connectivity or ability to manage data between tools which creates inefficiencies and sacrifices the opportunity to visualize true, real-time information across their enterprise.

Talent and technology adoption are also a major pain point in the industry.  We have a workforce that is suffering a bifurcation of learning styles and technology adoption across generations.  The generation that is entering the workforce is accustomed to visualizing content and working in 3D with mobile devices as their primary tool.  In contrast, the more experienced workforce generally lags in technology adoption, instead focusing on traditional 2D methods and project experience.  We believe in a combined effort marrying the power of BIM while delivering a user-friendly solution that promotes industry-wide adoption.   

What are the features and functionalities of your solution?

Our platform iTWO 4.0 is based on Industry 4.0. The name is derived from a small 'i' and a capital 'TWO', which is about integrating two processes—virtual and physical. The physical construction should follow the virtual; we need to virtualize our project before any execution begins and then use that virtual model to more aggresively manage the physical execution. iTWO consumes various design sources including 3D models, 2D plans, and algorithmic data for purpose of utilizing the information contained within them to develop and deliver a project. The intelligence from the various design sources becomes the basis for quantifying takeoff and estimation within the platform. In the same platform, we are scheduling directly against the model using that as the basis of simulations and variations, thus creating an integrated 5D master plan for the project.  By utilizing the 5D method, we allow users to look at all the potential contingencies and risks in that virtual world, such as contract methodologies, market risk, resource availability, etc. prior to beginning project execution.

In addition, RIB has teamed up with Silicon Valley based Flex through a joint venture called YTWO Formative. The YTWO platform enables demand-driven, build-to-order production for the building and housing industries. Virtual design, supply chain, manufacturing and logistics scheduling are perfectly aligned with project execution to reach the target of just-in-time production and delivery. YTWO allows stakeholders to optimize build and risk models making the process more efficient by having a single platform aggregate all sources of data.  This allows for a more predictive vs reactive working method in the virtual or planning phase of a project.

Once in project execution (physical), iTWO 4.0 uses the master 5D plan as a baseline to actively manage the project displaying budget vs cost and schedule vs performance integrated with a maturing BIM.  This allows us to control the project, forecast cost, and manage schedule to completion while visualizing the content within a 3D Model.

Give us a brief explanation of iTWOFM?

iTWOFM ‘Facilities Management’ gives the content that was developed as an as-built model and turns it over to the owner.   The deliverable helps the owner manage the asset by providing a history of everything that was installed during construction. Since everything is in one place, an organization can perform better life cycle cost analysis in real-time to know what is currently happening from an operation and maintenance standpoint.

Tell us about an instance where you helped a client with a significant problem.

Clients talk about disconnected data that they spend so much time on. We helped a general contractor client that builds hotels and offices consolidate data for better cost and time management. Traditionally, the contractor put together a biweekly progress report that showed status on cost, time, and installed quantities. Their process involved utilizing detailed 2D drawings to compare what had been installed and what was missing. This process was labor intensive and took two weeks to put together, by which time, the data was obsolete and spread across multiple systems.  As a solution, we were able to assemble the report almost instantaneously within iTWO and compare it against the 3D BIM.  The iTWO solution allowed for continuous real-time information which led to a significant increase in productivity.

How does the future look like for the company?

RIB Software is starting to offer solutions that integrate VR and AR functionalities within the platform to further enhance the usage of the model and visualization demands. We have continued to explore IoT uses by incorporating senor data into the iTWO database.  Through use of IoT and iTWO, we are gathering more information in a structured manner and are able to take advantage of it with advanced business intelligence modelling. Not only do we see ourselves as being able to develop on this platform, but we also see the opportunity to allow the marketplace to benefit from this very important data. Most recently, we signed an agreement with Microsoft on a strategic alliance to build the world's first vertical cloud platform "MTWO" for the construction industry. MTWO is a cloud-based BIM 5D engineering software platform based on RIB's iTWO 4.0 technology, complemented by Microsoft's next-generation Artificial Intelligence, IoT, and mixed reality applications using HoloLens glasses. MTWO will operate as an end-to-end enterprise solution on the Microsoft Cloud Platform Azure.  We see the opportunity to offer a technology platform where we can build the future of construction, today.

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Company Name: RIB Software

Website: www.ribamericas.com

Location: Memphis, TN

Management: Mickey A. Carr, CTO

Description: Integrates virtual construction into the physical construction process to enable construction to become one of the most advanced and digitalized industries. 

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RIB Software SE (RIB) acquires 51% of the shares in DATENGUT GmbH, one of the leading German providers of mobile solutions for the construction industry

RIB Software SE (RIB) acquires 51% of the shares in DATENGUT GmbH, one of the leading German providers of mobile solutions for the construction industry

Stuttgart, Germany, 26 February 2018. RIB Software SE, the world’s leading provider of 5D BIM Big Data technology for the construction industry, today announced the acquisition of 51% of the shares in DATENGUT GmbH. As part of a partial transfer of operations, the RIB Group participates in the new company, based in Zwenkau, Leipzig. The new company focuses on the further development of mobile, innovative solutions with connection to the iTWO technology, which are specifically tailored to the construction industry. The former company will continue to focus on its partner business. Half of the purchase price was paid with own shares and cash respectively.

Michael Sauer, Executive Board Member of RIB Group, comments on the agreement as follows: “We are looking forward to work with the young and innovative Datengut team, which has a high level of expertise in the development of mobile solutions for the construction industry. Through the participation, we intend to establish a competence center for mobility, within the RIB Group for the DACH region. The focus here is on the iTWO app-development. By working with Datengut, we will continue to expand our expertise in web-based solutions for the construction industry.”

“RIB's investment in Datengut represents a milestone in the history of our company and a confirmation of our leading position in web-based solutions in construction industry for the DACH market. We are looking forward to work with RIB in this expanding field and will create real added value for our customers by pooling the expertise of both companies”, says Michael Woitag, Managing Director of Datengut GmbH.

About DATENGUT
Datengut designs, develops and distributes unique software solutions, enabling a completely new way of working for clients in a variety of industries, with a focus on mid-sized and large construction companies. With the Datengut software kit, data from existing data sources (such as Financial Accounting, ERP, e-mail, CRM, DMS, ...) are taken over and combined in a single web application. The result is a command center with comprehensive options for viewing, controlling and managing operational processes. All relevant data can be accessed and processed on the go, even offline via the App. Important processes and procedures that are linked to the information (capture, check, release, evaluation, planning, etc.) are automated, optimized and standardized. In 2012, a small team around the Managing Director and idea generator - Michael Woitag - spun off from another software company. Nearly 50 highly motivated and qualified employees work in the areas of development, programming, project implementation, sales and marketing at the location in Zwenkau (district of Leipzig).

 

The RIB Group

RIB Software SE is an innovator in construction business. The company creates, develops, and offers iTWO³ – new thinking, new working method and new technology - for construction projects across various industries worldwide. iTWO today is the world’s first Cloud / License based Big Data 5D BIM enterprise solution for construction companies, industrial companies, developers and investors. Since its inception in 1961, RIB Software SE has been the pioneer in construction innovation, exploring and bringing in new thinking, new working method and new technology to enhance construction productivity, and transforming the construction industry into the most advanced and digitalized industry in the 21st century. RIB is headquartered in Stuttgart, Germany, and listed in Prime Standard Frankfurt Stock Exchange since 2011. With about 800 talents located in over 30 offices worldwide, RIB is serving 100,000 clients including construction contractors, sub-contractors, developers, owners, investors and governments, in the field of building construction, infrastructure, EPC sector and more.

Joint Venture Partner Flex waives its redemption right for YTWO Formative

Joint Venture Partner Flex waives its redemption right for YTWO Formative

Stuttgart, Germany, 26 February 2018. In the joint venture YTWO Formative, founded in September 2016 between the RIB Group and Flex the world's first provider of a cloud-based, combined 5D BIM and supply chain management enterprise solution for real estate developers and housing companies, Flex has waived its redemption right with respect to its stake in the YTWO Formative joint venture.

Under the original agreement, Flex was entitled to exercise a right of redemption in respect to its stake in YTWO Formative within a given redemption deadline if certain contractually defined performance targets were not met. As early as 2017, Flex approved a postponement of the redemption deadline due to the positive developments YTWO Formative was experiencing. Due to the now agreed waiver, a redemption right for Flex no longer exists. Both companies invested $60 million in the joint venture for a 50 percent stake.

“We are excited about the building momentum and interest in the YTWO Formative platform and based on its success so far we have removed our redemption right,” said Mike McNamara, CEO of Flex.

About YTWO Formative
Established in 2016, YTWO Formative is a joint venture of RIB, the world’s leading web-based 5D BIM enterprise solution provider, and Flex, the global supply chain management solutions provider. Combining digitalization and industrialization, YTWO Formative offers a fully integrated end-to-end cloud-based 5D BIM enterprise platform to support the building and housing industries worldwide. The digitalized and industrialized working process can generate savings and benefits of up to 30%.

 

 

The RIB Group

RIB Software SE is an innovator in construction business. The company creates, develops, and offers iTWO³ – new thinking, new working method and new technology - for construction projects across various industries worldwide. iTWO today is the world’s first Cloud / License based Big Data 5D BIM enterprise solution for construction companies, industrial companies, developers and investors. Since its inception in 1961, RIB Software SE has been the pioneer in construction innovation, exploring and bringing in new thinking, new working method and new technology to enhance construction productivity, and transforming the construction industry into the most advanced and digitalized industry in the 21st century. RIB is headquartered in Stuttgart, Germany, and listed in Prime Standard Frankfurt Stock Exchange since 2011. With about 800 talents located in over 30 offices worldwide, RIB is serving 100,000 clients including construction contractors, sub-contractors, developers, owners, investors and governments, in the field of building construction, infrastructure, EPC sector and more.

RIB Software SE (RIB) acquires 51% of the shares in DATENGUT GmbH, one of the leading German providers of mobile solutions for the construction industry

RIB Software SE (RIB) acquires 51% of the shares in DATENGUT GmbH, one of the leading German providers of mobile solutions for the construction industry

Stuttgart, Germany, 26 February 2018. RIB Software SE, the world’s leading provider of 5D BIM Big Data technology for the construction industry, today announced the acquisition of 51% of the shares in DATENGUT GmbH. As part of a partial transfer of operations, the RIB Group participates in the new company, based in Zwenkau, Leipzig. The new company focuses on the further development of mobile, innovative solutions with connection to the iTWO technology, which are specifically tailored to the construction industry. The former company will continue to focus on its partner business. Half of the purchase price was paid with own shares and cash respectively.

Michael Sauer, Executive Board Member of RIB Group, comments on the agreement as follows: “We are looking forward to work with the young and innovative Datengut team, which has a high level of expertise in the development of mobile solutions for the construction industry. Through the participation, we intend to establish a competence center for mobility, within the RIB Group for the DACH region. The focus here is on the iTWO app-development. By working with Datengut, we will continue to expand our expertise in web-based solutions for the construction industry.”

“RIB's investment in Datengut represents a milestone in the history of our company and a confirmation of our leading position in web-based solutions in construction industry for the DACH market. We are looking forward to work with RIB in this expanding field and will create real added value for our customers by pooling the expertise of both companies”, says Michael Woitag, Managing Director of Datengut GmbH.

About DATENGUT
Datengut designs, develops and distributes unique software solutions, enabling a completely new way of working for clients in a variety of industries, with a focus on mid-sized and large construction companies. With the Datengut software kit, data from existing data sources (such as Financial Accounting, ERP, e-mail, CRM, DMS, ...) are taken over and combined in a single web application. The result is a command center with comprehensive options for viewing, controlling and managing operational processes. All relevant data can be accessed and processed on the go, even offline via the App. Important processes and procedures that are linked to the information (capture, check, release, evaluation, planning, etc.) are automated, optimized and standardized. In 2012, a small team around the Managing Director and idea generator - Michael Woitag - spun off from another software company. Nearly 50 highly motivated and qualified employees work in the areas of development, programming, project implementation, sales and marketing at the location in Zwenkau (district of Leipzig).

 

The RIB Group

RIB Software SE is an innovator in construction business. The company creates, develops, and offers iTWO³ – new thinking, new working method and new technology - for construction projects across various industries worldwide. iTWO today is the world’s first Cloud / License based Big Data 5D BIM enterprise solution for construction companies, industrial companies, developers and investors. Since its inception in 1961, RIB Software SE has been the pioneer in construction innovation, exploring and bringing in new thinking, new working method and new technology to enhance construction productivity, and transforming the construction industry into the most advanced and digitalized industry in the 21st century. RIB is headquartered in Stuttgart, Germany, and listed in Prime Standard Frankfurt Stock Exchange since 2011. With about 800 talents located in over 30 offices worldwide, RIB is serving 100,000 clients including construction contractors, sub-contractors, developers, owners, investors and governments, in the field of building construction, infrastructure, EPC sector and more.

Joint Venture Partner Flex waives its redemption right for YTWO Formative

Joint Venture Partner Flex waives its redemption right for YTWO Formative

Stuttgart, Germany, 26 February 2018. In the joint venture YTWO Formative, founded in September 2016 between the RIB Group and Flex the world's first provider of a cloud-based, combined 5D BIM and supply chain management enterprise solution for real estate developers and housing companies, Flex has waived its redemption right with respect to its stake in the YTWO Formative joint venture.

Under the original agreement, Flex was entitled to exercise a right of redemption in respect to its stake in YTWO Formative within a given redemption deadline if certain contractually defined performance targets were not met. As early as 2017, Flex approved a postponement of the redemption deadline due to the positive developments YTWO Formative was experiencing. Due to the now agreed waiver, a redemption right for Flex no longer exists. Both companies invested $60 million in the joint venture for a 50 percent stake.

“We are excited about the building momentum and interest in the YTWO Formative platform and based on its success so far we have removed our redemption right,” said Mike McNamara, CEO of Flex.

About YTWO Formative
Established in 2016, YTWO Formative is a joint venture of RIB, the world’s leading web-based 5D BIM enterprise solution provider, and Flex, the global supply chain management solutions provider. Combining digitalization and industrialization, YTWO Formative offers a fully integrated end-to-end cloud-based 5D BIM enterprise platform to support the building and housing industries worldwide. The digitalized and industrialized working process can generate savings and benefits of up to 30%.

 

 

The RIB Group

RIB Software SE is an innovator in construction business. The company creates, develops, and offers iTWO³ – new thinking, new working method and new technology - for construction projects across various industries worldwide. iTWO today is the world’s first Cloud / License based Big Data 5D BIM enterprise solution for construction companies, industrial companies, developers and investors. Since its inception in 1961, RIB Software SE has been the pioneer in construction innovation, exploring and bringing in new thinking, new working method and new technology to enhance construction productivity, and transforming the construction industry into the most advanced and digitalized industry in the 21st century. RIB is headquartered in Stuttgart, Germany, and listed in Prime Standard Frankfurt Stock Exchange since 2011. With about 800 talents located in over 30 offices worldwide, RIB is serving 100,000 clients including construction contractors, sub-contractors, developers, owners, investors and governments, in the field of building construction, infrastructure, EPC sector and more.

Exactal Group Limited, a 100% subsidiary of RIB Software SE (RIB), signs a Phase-II-contract (No. 02 / 2018) for the delivery of the CostX solution

Exactal Group Limited, a 100% subsidiary of RIB Software SE (RIB), signs a Phase-II-contract (No. 02 / 2018) for the delivery of the CostX solution

Stuttgart, Germany, 20 February 2018. RIB, the world’s leading provider of 5D BIM Big Data technology for the construction industry, today announced the conclusion of the second Phase-II-contract of the current fiscal year concluded through its newly acquired subsidiary, Exactal Group Limited. The customer, who has their headquarters in the UK, awarded the contract to Exactal based on CostX’s world leading integration between take off and estimating entirely replacing their incumbent system.

Murray Freeman, CEO of Exactal Group Limited, comments: “Exactal has been growing its presence in Europe significantly over the last few years. This new contract is just another example of the number of customers that are leaving their old-fashioned estimating systems behind in favour of the new generation CostX software from Exactal.” Mr. Freeman then adds: “Exactal will continue to grow its market presence in Europe and the rest of the world with the additional stability provided now as an important part of the RIB Group.”

About Exactal Group Limited
Established in Brisbane, Australia in 2003 to develop software specifically for the quantity surveying and estimating market, Exactal has continued to expand its worldwide presence and is now a 100% subsidiary of RIB Software SE. It has offices in Brisbane & Melbourne in Australia, London & Manchester in the UK, Auckland in New Zealand, Austin in the USA, Kuala Lumpur in Malaysia, Singapore and Hong Kong. The company also has sales and channel partner support across much of the globe. The main product CostX® provides an integrated BIM and 2D on-screen measurement solution with a unique integration between the cost estimates and the elements on the drawing files that the estimate represents. This approach keeps estimates up to date and allows drawing revisions to be easily evaluated to eliminate traditional scope creep in construction projects.

 

The RIB Group

RIB Software SE is an innovator in construction business. The company creates, develops, and offers iTWO³ – new thinking, new working method and new technology - for construction projects across various industries worldwide. iTWO today is the world’s first Cloud / License based Big Data 5D BIM enterprise solution for construction companies, industrial companies, developers and investors. Since its inception in 1961, RIB Software SE has been the pioneer in construction innovation, exploring and bringing in new thinking, new working method and new technology to enhance construction productivity, and transforming the construction industry into the most advanced and digitalized industry in the 21st century. RIB is headquartered in Stuttgart, Germany, and listed in Prime Standard Frankfurt Stock Exchange since 2011. With about 800 talents located in over 30 offices worldwide, RIB is serving 100,000 clients including construction contractors, sub-contractors, developers, owners, investors and governments, in the field of building construction, infrastructure, EPC sector and more.

RIB Group announces its preliminary figures for the 2017 financial year: Double-digit growth in revenues and increase in software licence revenues by 20.1% to € 34.7 million

RIB Group announces its preliminary figures for the 2017 financial year: Double-digit growth in revenues and increase in software licence revenues by 20.1% to € 34.7 million

  • EBITDA grows by 22.9% to € 40.2 million (2016: € 32.7 million)
  • EBITDA margin rises to 37.1% (2016: 33.4%)
  • Increase in Revenues by 10.6% to € 108.3 million (2016: € 97.9 million)

Stuttgart, Germany, 15.02.2018. RIB Software SE (ISIN DE000A0Z2XN6), the world’s leading provider of 5D BIM Big Data technology, today announces its preliminary and unaudited financial figures for the fiscal year 2017.

Group revenues of the RIB Group increased by 10.6% to € 108.3 million (2016: € 97.9 million). EBITDA increased by 22.9% to € 40.2 million in the financial year (2016: € 32.7 million). In terms of revenues, the forecast (in the range of € 98 million to € 108 million) was thus slightly exceeded, and EBITDA reached the upper end of the forecast corridor (€ 38 million to € 41 million).

The EBITDA margin of the RIB Group increased to 37.1% in the 2017 financial year (2016: 33.4%). Maintenance revenues rose by 22.5% to € 33.2 million (2016: € 27.1 million). Software licence revenues grew by 20.1% to € 34.7 million (2016: € 28.9 million).

RIB Software SE will publish its final figures for the fiscal year 2017 as well as the guidance for the fiscal year 2018 on Thursday, March 29, 2018.

 

The RIB Group

RIB Software SE is an innovator in construction business. The company creates, develops, and offers iTWO³ – new thinking, new working method and new technology - for construction projects across various industries worldwide. iTWO today is the world’s first Cloud / License based Big Data 5D BIM enterprise solution for construction companies, industrial companies, developers and investors. Since its inception in 1961, RIB Software SE has been the pioneer in construction innovation, exploring and bringing in new thinking, new working method and new technology to enhance construction productivity, and transforming the construction industry into the most advanced and digitalized industry in the 21st century. RIB is headquartered in Stuttgart, Germany, and listed in Prime Standard Frankfurt Stock Exchange since 2011. With about 800 talents located in over 30 offices worldwide, RIB is serving 100,000 clients including construction contractors, sub-contractors, developers, owners, investors and governments, in the field of building construction, infrastructure, EPC sector and more.

RIB Software SE (RIB) signs a Phase-II-contract (No. 01 / 2018) for the delivery of the iTWO solution

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RIB Software SE (RIB) signs a Phase-II-contract (No. 01 / 2018) for the delivery of the iTWO solution

Stuttgart, Germany, 07 February 2018. RIB, the world’s leading provider of 5D BIM Big Data technology for the construction industry, today announced the conclusion of the first Phase-II-contract of the current fiscal year. The customer has decided to choose the iTWO solution from RIB and has awarded the contract in a public procurement procedure.

The aim of the customer is to provide a uniform solution for the electronic implementation of public procurement procedures throughout an entire region, thus establishing a regional platform for public procurement in the region.

Erik von Stebut, Managing Director of RIB Deutschland GmbH, comments the agreement as follows: "As the winner of the bid, we are very pleased to have won another major and important user for our iTWO platform. We are convinced that our solution we will enable efficient, transparent and future-oriented processing of procurement procedures."

 

The RIB Group

RIB Software SE is an innovator in construction business. The company creates, develops, and offers iTWO³ – new thinking, new working method and new technology - for construction projects across various industries worldwide. iTWO today is the world’s first Cloud / License based Big Data 5D BIM enterprise solution for construction companies, industrial companies, developers and investors. Since its inception in 1961, RIB Software SE has been the pioneer in construction innovation, exploring and bringing in new thinking, new working method and new technology to enhance construction productivity, and transforming the construction industry into the most advanced and digitalized industry in the 21st century. RIB is headquartered in Stuttgart, Germany, and listed in Prime Standard Frankfurt Stock Exchange since 2011. With about 800 talents located in over 30 offices worldwide, RIB is serving 100,000 clients including construction contractors, sub-contractors, developers, owners, investors and governments, in the field of building construction, infrastructure, EPC sector and more.

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RIB Software SE (RIB) acquires remaining 25% in Exactal Group Limited, increasing its stake in the leading provider of calculation software in English-speaking countries to 100%

RIB Software SE (RIB) acquires remaining 25% in Exactal Group Limited, increasing its stake in the leading provider of calculation software in English-speaking countries to 100%

Stuttgart, Germany, 05 January 2018. RIB Software SE, the world’s leading provider of 5D BIM Big Data technology for the construction industry, today announced the increase in its stake from 75% to 100% of Exactal Group Limited (Australia / Hong Kong), the market leader for construction calculation software in Australia, with international offices in London, Manchester in the UK, Kuala Lumpur in Malaysia, Auckland in New Zealand, Austin in the US, Singapore and Hong Kong. The purchase price was entirely paid with own shares.

Thomas Wolf, CEO of RIB Software SE: “We are proud to now welcome Exactal as a full member of the RIB family. RIB and Exactal share a joint vision for the digitalization of the construction industry and are market leaders in their respective fields: RIB through its iTWO 5D BIM enterprise solution and Exactal through its CostX construction estimating software. Jointly we can strengthen our market position, whilst also continuing the excellent business development that our stand-alone products have seen over the last years.”

About Exactal Group Limited
Established in Brisbane, Australia in 2003 to develop software specifically for the quantity surveying and estimating market, Exactal has continued to expand its worldwide presence. It now has offices in Brisbane & Melbourne in Australia, London & Manchester in the UK, Auckland in New Zealand, Austin in the USA, Kuala Lumpur in Malaysia, and Singapore and Hong Kong. The company also has sales and channel partner support across much of the globe. The main product CostX® provides an integrated BIM and 2D on-screen measurement solution with a unique integration between the cost estimates and the elements on the drawing files that the estimate represents. This approach keeps estimates up to date and allows drawing revisions to be easily evaluated to eliminate traditional scope creep in construction projects.
 

 

The RIB Group

RIB Software SE is an innovator in construction business. The company creates, develops, and offers iTWO³ – new thinking, new working method and new technology - for construction projects across various industries worldwide. iTWO today is the world’s first Cloud / License based Big Data 5D BIM enterprise solution for construction companies, industrial companies, developers and investors. Since its inception in 1961, RIB Software SE has been the pioneer in construction innovation, exploring and bringing in new thinking, new working method and new technology to enhance construction productivity, and transforming the construction industry into the most advanced and digitalized industry in the 21st century. RIB is headquartered in Stuttgart, Germany, and listed in Prime Standard Frankfurt Stock Exchange since 2011. With about 800 talents located in over 30 offices worldwide, RIB is serving 100,000 clients including construction contractors, sub-contractors, developers, owners, investors and governments, in the field of building construction, infrastructure, EPC sector and more.

RIB increases its stake in Exactal Group Limited to 75%

RIB increases its stake in Exactal Group Limited to 75%

Stuttgart, Germany, 15 November 2017. RIB Software SE, the world’s leading provider of 5D BIM Big Data technology for the construction industry, today announced the increase in its stake from 25% to 75% of Exactal Group Limited (Australia / Hong Kong), the market leader for construction calculation software in Australia, with international offices in London, Manchester in the UK, Kuala Lumpur in Malaysia, Auckland in New Zealand, Austin in the US, Singapore and Hong Kong. The purchase price is based on a company valuation of € 24.4 million (2017 P/E 21.7 / revenue growth 22.5%).

Thomas Wolf, CEO of RIB Software SE highlights the advantages of the partnership: “With the acquisition of 75% of Exactal, we can increase our footprint in English-speaking countries through their branch offices in Brisbane and Melbourne in Australia, London & Manchester in the UK, Auckland in New Zealand, Austin in the US, Kuala Lumpur in Malaysia, Singapore and Hong Kong.”

About Exactal Group Limited

Established in Brisbane, Australia in 2003 to develop software specifically for the quantity surveying and estimating market, Exactal has continued to expand its worldwide presence. It now has offices in Brisbane & Melbourne in Australia, London & Manchester in the UK, Auckland in New Zealand, Austin in the USA, Kuala Lumpur in Malaysia, and Singapore and Hong Kong. The company also has sales and channel partner support across much of the globe. The main product CostX® provides an integrated BIM and 2D on-screen measurement solution with a unique integration between the cost estimates and the elements on the drawing files that the estimate represents. This approach keeps estimates up to date and allows drawing revisions to be easily evaluated to eliminate traditional scope creep in construction projects.

RIB Software SE (RIB) signs a Phase-II-contract (No. 28 / 2017) with Leading EPCI Firm

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RIB Software SE (RIB) signs a Phase-II-contract (No. 28 / 2017) with Leading EPCI Firm

Memphis, Tennessee, USA, 20 October 2017. RIB Software SE, the world’s leading provider of 5D BIM Big Data technology, today announced the conclusion of a Phase-II-contract with a leading engineering, procurement, construction, and installation (EPCI) firm headquartered in the United States.

“We are very excited about delivering RIB’s iTWO technology to a leader in the EPCI industry and adding a strong partner to the RIB family”, comments Mickey Carr, CTO of RIB Americas. “This new client has a vision to utilize innovation and technology to be the leader of the global offshore engineering and construction market which we believe aligns perfectly with RIB’s approach of using New Thinking, New Working Methods and New Technology to industrialize engineering and construction.”

About RIB Group

RIB Software SE is an innovator in construction business. The company creates, develops, and offers iTWO³ – new thinking, new working method and new technology - for construction projects across various industries worldwide. iTWO today is the world’s first Cloud / License based Big Data 5D BIM enterprise solution for construction companies, industrial companies, developers and investors. Since its inception in 1961, RIB Software SE has been the pioneer in construction innovation, exploring and bringing in new thinking, new working method and new technology to enhance construction productivity, and transforming the construction industry into the most advanced and digitalized industry in the 21st century. RIB is headquartered in Stuttgart, Germany, and listed in Prime Standard Frankfurt Stock Exchange since 2011. With about 750 talents located in over 30 offices worldwide, RIB is serving 100,000 clients including construction contractors, sub-contractors, developers, owners, investors and governments, in the field of building construction, infrastructure, EPC sector and more.

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RIB Software SE signs a Phase-II-contract with Procter & Gamble

RIB Software SE signs a Phase-II-contract with Procter & Gamble

RIB Software SE signs a Phase-II-contract (No. 21 / 2017) with US based consumer goods manufacturer Procter & Gamble

 

Memphis, Tennessee, 20 July 2017. RIB Software SE, the world’s leading provider of 5D BIM Big Data technology for the construction industry, today announced the conclusion of a Phase-II-contract with consumer goods manufacturer Procter & Gamble (P&G), headquartered in Cincinnati, Ohio. P&G continues to focus on improving its productivity, cost structures, and supply chain management with an emphasis on innovation. To support these initiatives, P&G will be deploying the iTWO 5D technology globally to support capital cost planning and management.

P&G, founded in 1837 by William Procter and James Gamble, primarily specializes in a wide range of cleaning agents, personal care, baby care and health care products. With over 65 billion USD in sales in 2016 and a market cap over 228 billion USD, Procter and Gamble is ranked in the top 50 of Forbes Global 2000. 

"We are very excited about adding a technology partner in the manufacturing sector that is based in the United States and is a major participant in the global community", says RIB Americas CTO Mickey A. Carr. "P&G has established itself as an innovative leader globally and shares our vision of leveraging the iTWO New Thinking, New Working Methods and New Technology to truly industrialize the construction industry using the principles of Industry 4.0."   

About RIB Group

RIB Software SE is an innovator in construction business. The company creates, develops, and offers iTWO³ – new thinking, new working method and new technology - for construction projects across various industries worldwide. iTWO today is the world’s first Cloud / License based Big Data 5D BIM enterprise solution for construction companies, industrial companies, developers and investors. Since its inception in 1961, RIB Software SE has been the pioneer in construction innovation, exploring and bringing in new thinking, new working method and new technology to enhance construction productivity, and transforming the construction industry into the most advanced and digitalized industry in the 21st century. RIB is headquartered in Stuttgart, Germany, and listed in Prime Standard Frankfurt Stock Exchange since 2011. With about 750 talents located in over 30 offices worldwide, RIB is serving 100,000 clients including construction contractors, sub-contractors, developers, owners, investors and governments, in the field of building construction, infrastructure, EPC sector and more.

Flex and RIB Join Forces to Transform the Building and Housing Industry

Flex and RIB Join Forces to Transform the Building and Housing Industry

 

Flex, a solutions provider that designs and builds intelligent products for a connected world, and RIB have formed a joint venture that will transform the $9 trillion building and housing industry.

The joint venture will operate under the name YTWO Formative, providing an open platform, cloud-based software solution that combines the strength of RIB's iTWO 5D BIM software capabilities with Flex's manufacturing, supply chain management and logistics expertise. By combining the two companies' strengths, YTWO Formative offers a fully integrated enterprise software platform that will take a project all the way from full virtualization which includes time, cost, materials and a complete 3D model to supply chain execution and projection completion.

YTWO Formative is an integrated, intelligent platform that eliminates the need for investment in expensive IT systems and software licenses and allows customers to create accurate, detailed construction project plans, facilitated by a catalog of home and modular construction products, providing critical intelligence on pricing and lead times. The JV aims to modernize practices in the fields of architecture, engineering and construction.

"RIB provides the best enterprise solution available for construction planning and management in this $9 trillion1 and growing industry, and Flex is the leader in global supply chain solutions.  With our combined expertise in YTWO Formative, we are building a smarter, more connected system, using modern software architecture and real-time information, which will reduce costs by up to 50 percent, shorten cycle times, improve efficiency and help complete projects on schedule," said Mike McNamara, CEO at Flex. "YTWO Formative fits perfectly with our strategy of creating Sketch-to-Scale solutions by leveraging our expansive platform. This industry represents a massive opportunity as we open up a completely new market for Flex."

Thomas Wolf, CEO at RIB, 30-year veteran of the construction industry and a pioneer in BIM software said, "Over 60 percent of major projects are over budget or behind schedule2, underscoring the need for improved efficiencies. Together with Flex, we are delivering a fully integrated solution on a single platform that addresses this need with state-of-the-art technology, design-to-project-completion solutions, synchronized supply chain planning with direct access, and more."

Flex and RIB have each contributed approximately $60 million for a non-controlling interest in the joint venture, which has received regulatory clearance. 

For more information on YTWO Formative, visit: http://www.ytwoformative.com

About Flex
Flex Ltd. is the Sketch-to-Scale™ solutions provider that designs and builds intelligent products for a connected world. With approximately 200,000 professionals across 30 countries, Flex provides innovative design, engineering, manufacturing, real-time supply chain insight and logistics services to companies of all sizes in various industries and end-markets. For more information, visit www.flextronics.com or follow us on Twitter @Flextronics. Flex – Live Smarter™

 

Autodesk and RIB Collaborate to Deliver the Most Dynamic 5D Enterprise Solution

Autodesk and RIB Collaborate to Deliver the Most Dynamic 5D Enterprise Solution

RIB is excited to announce our joint effort with Autodesk to deliver the fully integrated and interoperable iTWO 5D BIM Enterprise Solution for the architecture, engineering and construction industries. The collaborative effort will upgrade the 3D BIM engine of RIB’s 5D technology and minimize project risk while increasing profitability and productivity through virtual end-to-end construction.

This joint solution will further improve the real-time integration of 3D construction modeling and scheduling (4D) and project cost-related information (5D) in both virtual and physical construction processes on the iTWO platform - a 5D BIM solution that provides all of the necessary design from Autodesk’s Revit software, schedule and cost information in a single platform to become the single source of truth for construction project teams. Dynamic changes to cost and schedule based on changes in geometry and object properties can be checked in real time. The project supply chain can also be engaged to rapidly integrate structural, MEP and architectural models into 5D processes. It enables firms and investors across the Building, Civil Infrastructure, and Industrial sectors to more confidently understand the critical business drivers of a project and predict outcomes through the entire project life cycle.

RIB and Autodesk are running together to create the next generation of living.

 

The First iTWO Enabled Course Has Successfully Been Completed at Georgia Institute of Technology

The First iTWO Enabled Course Has Successfully Been Completed at Georgia Institute of Technology

Atlanta, Georgia, 11 January 2016. The first class of young iTWO talents has successfully completed the iTWO Enabled Course at Georgia Institute of Technology (Georgia Tech).

This iTWO Enabled Course was set up by RIB Software AG, the world’s leading provider of iTWO Big Data 5D BIM technologies for the construction and infrastructure industry, together with Georgia Tech on 17th August, 2015. The goal of the iTWO Enabled Course is to deliver advanced iTWO new thinking, new working method and new technology which enables undergraduate and graduate students to become the engines to drive the construction industry.

At the end of the semester, an iTWO final project competition was conducted to enable a better understanding and learning of how to work on a real construction project as an IPD team although the students are from different majors, and how to use an IPD method with the utilization of the iTWO 5D BIM Platform. The most exciting and interesting part of the course, 31 multidisciplinary students were divided into 8 teams to work on a construction project - a Dining and Classroom Facility for 2,500 students. At the end, the teams had to present their project including their approach, project cost, schedule, 5D simulation, a life cycle cost analysis and a change order method.

Finally, the winning team was selected and announced by Prof. Pardis (Dr Pardis Pishdad-Bozorgi), the instructor of iTWO course and RIB professionals. The winning team members are Hwayeong Choi, Jeffrey Chermely, Emily Doherty, Xiaoli Zhang. Prof Pardis commented that “the Final project presentations by students are very good. It is great to see that students can flexibly apply their new knowledge into practice. The winning team has provided an excellent presentation and exceeded all the evaluation criteria. They showed us in real time using iTWO the cost estimate, schedule and 5D simulation and change order analysis. They performed additional LCCA analysis for green roof and triple pane window.”

Mr. Thomas Wolf, CEO of RIB Group said that “As reward for winning the competition, we will offer the winners an internship opportunity to work with us on the iTWO city master or iTWO 4.0 generation or to work with leading clients.”

After the competition, all the students received their iTWO course certificate of completion which is issued by Georgia Tech and RIB Group. With the good foundation of iTWO knowledge and skills, this first class of young iTWO talents will become a strong power to transform the construction industry. In 2016, RIB will collaborate with more top universities worldwide to cultivate more iTWO talents.

About Georgia Institute of Technology

Located in Atlanta, Georgia, the Georgia Institute of Technology is a leading research university committed to improving the human condition through advanced science and technology.

Ranked as the #7 best public university, Georgia Tech provides a focused, technologically based education to more than 21,500 undergraduate and graduate students.

Georgia Tech has many nationally recognized programs, all top-ranked by peers and publications alike, and is ranked in the nation’s top 10 public universities by U.S. News and World Report. Degrees are offered through the colleges of Architecture, Computing, Engineering, Sciences, the Scheller College of Business, and the Ivan Allen College of Liberal Arts.

The strong academic work ethic at Tech is balanced by a collegiate atmosphere incorporating both intercollegiate and intramural sports, campus traditions, and some 400 student organizations.

RIB Signs iTWO Phase II Contract with the Largest Medium-sized Construction Company in the State of Hesse, Germany

RIB Signs iTWO Phase II Contract with the Largest Medium-sized Construction Company in the State of Hesse, Germany

Stuttgart, Germany, 16 November 2015. RIB Software AG, the world’s leading provider of 5D BIM Big Data technology for the construction industry, today announced the award of the 20th Phase II Deal in the current financial year 2015 (2014: 14 Phase II deals). The Contract was signed with the largest medium-sized construction company in the state of Hesse, Germany, Bickhardt Bau, which decided on iTWO 5D to focus on consistent and future-oriented processes.

Bickhardt Bau Aktiengesellschaft has been successfully involved in activities in the field of traffic route engineering for four decades and thus belongs to one of the top suppliers in this sector in Germany. Besides traffic route engineering Bickhardt Bau is also specializing on project development of industrial, commercial- and corporate buildings as well as public buildings. The company has successfully employed RIB solutions for many years and is now focusing on the aim to increase the value added of the planning- and project management processes by implementing model-based working methods.

Dr. Hans-Peter Sanio, executive board member of RIB Group comments: “We are really looking forward to be able to equip our longstanding business partner Bickhardt Bau with our iTWO 5D enterprise solution. We attached great importance to industrialize the construction industry with our technology and we will now cooperate closely with Bickhardt Bau to comply with this mission.”

RIB Signs Phase II Contract for an US Airport Improvement Plan

RIB Signs Phase II Contract for an US Airport Improvement Plan

Atlanta, Georgia, 30 October 2015. RIB Software AG, the world’s leading provider of 5D BIM Big Data technology for the construction industry, today announced the award of a three-year phase II contract with a volume of USD 2.6 million. It is the 19th of a planned 25 in the current financial year 2015 (financial year 2014: 14).     

The iTWO Experts from RIB will provide Estimating, Cost Management and Scheduling Services based on the iTWO 5D Technology for a major US airport’s terminal improvement program as well as for other development projects currently anticipated. The program is designed to extensively improve the airport travel experience with changes to terminals and parking garages that will enhance concessions, expand security check-points, reconfigure ticket counters and improve parking. The airport’s Board will rely on our experts to generate timely and accurate estimates to provide budget planning support and to evaluate, validate, and negotiate contractor claims.  

Regarding this Phase II deal to provide services for the airport’s construction projects, Suzanne Moltzen, CEO of the RIB North America Region commented “RIB has been providing unparalleled professional services to airports across the nation since 1989. We are pleased that this airport recognized the value our team brings to projects of this nature with both our software and our skilled experts.”  

RIB Continues Growth in the First 9 Months of 2015

RIB Continues Growth in the First 9 Months of 2015

Total revenue increases by 35.8% to € 57.3 million
iTWO Software & Cloud’s revenues reach € 23.8 million (+81.7%)

 

Stuttgart, Germany, 30 October 2015. The RIB Group continued its positive business performance of the first half of 2015 in the third quarter and again realised high revenue growth rates. In the current financial year, 18 out of a total of 25 planned phase II / III deals have already been concluded to date. In the first nine months Group revenues went up 35.8% to € 57.3 million. The share of Group revenues realised abroad increased to 49.0% in the reporting period.

The iTWO 5D technology gained a lot of momentum in 2015 and the enterprises are now step by step realizing the massive investment needs to perform the innovation transformation process within their organizations. More and more governments, developers and investors are demanding the usage of 5D technology from their supply chain. Due to this development iTWO Software and Cloud revenues saw an increase of 81.7% to € 23.8 million. It was very pleasing to see that the demand for iTWO 5D increased by 50.0% to €6.6 million in the small and medium-sized companies segment (mass market).

The operating profit before interest, tax, depreciation and amortisation on tangible and intangible assets (operating EBITDA*) increased by 23.1% to € 14.4 million year-over-year. Despite the significant increase in the write-downs from the purchase price allocation (PPA) to a value of € 2.2 million (previous year: € 1.1 million), operating profit before tax (operating EBT*) went up 10.8% to € 8.2 million in the first nine months.

With the acquisition of 75% of SAA Software Engineering, Vienna, RIB is now standing on the brink of a fourth industrial revolution. In connection with iTWO 4.0, the first web-based industrial solution, characterised through a strong individualisation of products under the conditions of a highly flexible small series production – in the future there will be construction factories running “smart” fabrication of intelligent building elements through industrial robots receiving their production specifications directly from 5D Models.

By intelligently combining project and production processes, companies and entire value-creating networks can be controlled and optimised in real time in iTWO 4.0. This includes the intelligent management of procurement processes to deliver "just in time" construction products on the building site. To this end, we will launch the first independent B2B marketplace for Construction "xTWO market" in the first quarter 2016. Our goal is to expand xTWO market to the worldwide leading eCommerce platform for construction products.

RIB Signs iTWO Phase II Contract with Large American Government Agency

RIB Signs iTWO Phase II Contract with Large American Government Agency

Atlanta, Georgia, 29 October 2015. RIB Software AG, the world’s leading provider of 5D BIM Big Data technology for the construction industry, today announced the conclusion of the 18th phase II contract of a planned 25 in the current financial year 2015 (financial year 2014: 14). The contract has a volume of around USD 3.8 million and runs over six years. It was signed with a large government agency in North America to provide 3rd Party estimate and schedule reviews during the final construction phase for laboratory facilities.    

RIB’s experts will use the iTWO software solution to generate both cost and schedule within the same platform to ensure the team seamlessly captures the impact of changes to one on the other. The results will then be compared against the contractor’s submissions and used to negotiate where needed.

Regarding this Phase II deal for the construction of this facility, Suzanne Moltzen, CEO of the RIB North America Region says “RIB is very excited that this agency will rely on our iTWO cost and scheduling expertise to advise the government with respect to its budgetary and time sensitive interests in the construction of this very unique project.”