Guangzhou, China, 19 June 2020. RIB Software SE, the world's leading provider of iTWO 5D BIM Big Data technology for the construction industry, today announced its investment into Bochaosoft, a leading China-based electric power and engineering BIM design software company.
Bochaosoft has its origin in BIM-based & GIS-based design software and is now an established and dominant digitalization solutions provider in engineering & construction, covering the design, build and maintenance stage. It is further extending its technology into Smart City, integrating IoT technology.
Headquartered in Beijing, China, with over 350 employees, Bochao serves 90% of China's mega engineering design institutes and 60% of Chine's major state-owned enterprises in the construction industry. In particular, Bochaosoft has been working with China State Grid for more than 10 years and is one of the most important partners in its digital transformation.
RIB and Bochaosoft share a joint vision regarding the digital transformation of the engineering & construction industry. Bochaosoft has a strong R&D competence with more than 120 people in Beijing. Its more than 15 years' of experience and practical knowledge in BIM & GIS design technologies are a perfect fit for RIB's iTWO 4.0 technology, and to bring to the market a fully integrated competitive, end-to-end, enterprise solution for the Architecture, Engineering and Design (AEC) industry. Joining forces, RIB and Bochaosoft will benefit from their joint Chinese R&D capacity, which will further solidify Bochaosoft's competitive edge in the EPC market and will help drive iTWO 4.0's penetration of the Chinese market. Furthermore, leveraging RIB's global capacity, Bochaosoft can continue to grow its overseas market share under the One Belt, One Road initiative.
RIB invests $28.57M USD for 51% of the shares in Bochaosoft. The investment is considered a milestone in RIB's mid-term M&A strategy.
Thomas Wolf, Chairman and CEO of RIB Software, commented, "I'm very excited to welcome the Bochaosoft team. Bochaosoft is a leading and very successful engineering software company in China. They have a strong position in the power and electric segment and the state-owned enterprise segment. Together we will become one of the best software companies in the Chinese construction and engineering industry. In the meantime, RIB with its strong international know-how will support Bochaosoft in its Belt and Road strategy to win deals from overseas operations of the top 100 Chinese state-owned enterprises."
Fei Lin, founder of Bochaosoft, commented, "The cooperation between RIB and Bochaosoft is both technical and market-oriented. It is of great significance for RIB to open up the Chinese market by combining RIB's leading technologies with the Chinese market. In the meantime, through the RIB global ecosystem, Bochaosoft's distinctive products and technical service capabilities can also be extended to the international market. I believe that the cooperation will become a model of mutual benefits. Let's work together to realize our shared vision of digitally transforming the industry into the most advanced industry and jointly building the future of living."
Yonghe Li, CEO of Bochaosoft, commented, "RIB is a respectable company in the industry. Bochaosoft has been focusing on the field of engineering digitalization for more than 20 years. We firmly believe that the two parties will have greater breakthroughs and development in the Chinese market as well as the international market on the basis of strong capital bonds and the complementarity of our respective industry expertise. Congratulations on the successful cooperation between both parties, I wish RIB greater achievements!"
Headquartered in Beijing and founded in 1993, Bochaosoft is as a leader in design software and engineering digitalization solution that cover 2D/3D design, QTO, estimate in the electric power sector. The company also offers customization, implementation and maintenance in relation to its software products. Its focus industries are electric power (thermal power, nuclear power, hydropower, new energy, smart grid), railway, petrochemical, metallurgical mining, rail, hydraulic engineering, municipal construction and oil & gas. The company is now expanding to CIM (City Information Modelling). Learn more at http://www.bochao.com.cn/.
About RIB Group
RIB Software SE is an innovator in the building and construction industry. The company develops and offers cutting-edge digital technologies for construction enterprises and projects across various industries worldwide. iTWO 4.0, RIB's flagship cloud-based platform, provides the world's first enterprise cloud technology based on 5D BIM with AI integration for construction companies, industrial companies, developers and project owners, etc. With over 50 years of experience in the construction industry, RIB Software SE focuses on IT and engineering and becomes the pioneer in construction innovation, exploring and bringing in new thinking, new working methods and new technologies to enhance construction productivity. RIB is headquartered in Stuttgart, Germany and Hong Kong, China, and listed on the prime standard Frankfurt Stock Exchange since 2011. With over 2,700 talents in more than 25 countries worldwide, RIB is targeting to transform the construction industry into the most advanced and digitalized industry in the 21st century.