RIB Group expands investment into A2K Technologies
Following RIB Group’s announcement on 26 September 2018 of their investment in A2K Technologies and PhoenxPLM as MTWO Managed Service Provider partners, a further announcement has been made confirming RIB Group have acquired additional shares increasing from 40% to 60% in both companies.
A2K Technologies’ Executive Director, Paul Laycock said that whilst the additional investment was unexpected, it shows the degree of confidence by RIB Group in A2K’s capabilities to deliver 10,000 MTWO users by early 2020 in the ANZ market.
“Momentum and interest in the MTWO product since the announcement in September has grown exponentially, with a number of our clients taking deliberate steps towards implementation into their business.” said Mr Laycock.
In April 2018, RIB and Microsoft joined forces to deliver MTWO - the world’s No.1 vertical cloud to accelerate the digital transformation of enterprises in the construction and real estate industries. MTWO combines RIB’s flagship product iTWO 4.0 with Microsoft Azure to offer a first class, end-to-end 5D BIM enterprise cloud solution, as well as related services for developers, contractors, owners and other project stakeholders.
Tom Wolf, Chairman and CEO of RIB, commented "The RIB investment in A2K and PhoenxPLM is another exciting development in our push to build the largest vertical cloud with MTWO through the Microsoft MSP network.
“The MTWO product is truly amazing and is set to transform the Australian and New Zealand building and construction industry. If you want to know how to build better, smarter and faster, to turn big data into smart data in real-time, and manage enterprise resources efficiently across multiple projects – you can’t go past MTWO.”said Mr Laycock, Executive Director A2K Technologies.
“A2K has a long history of introducing and adding value to the newest technology for the AEC and EPC industry. The MTWO vertical cloud is exactly what our 100,000 ANZ user base is waiting for and we’re excited to help bring this to fruition.” said Mr Laycock.