RIB signs the first MTWO MSP Partnership Agreement and strategic investment
Redmond, Washington, United States, 23 August 2018. RIB Software SE, the world’s leading provider of iTWO 5D BIM Cloud enterprise platform technology for the building, construction and infrastructure industry, today announced the successful conclusion of the first MTWO MSP partnership and investment agreement with ICS, a Microsoft certified partner from Redmond, where the global headquarters of Microsoft is located. This is the most significant step forward following the MTWO initiative with Microsoft and capital increase in H1 2018. The agreement marks the milestone of RIB entering the next leap of development – forming a global RIB iTWO partner network to achieve higher targets and develop the company from a SME to a large enterprise. The company’s target is to win 3 to 5 MSP partners in 2018.
Being one of the leading managed services providers located in the west coast of the US, ICS joins the MTWO partner network with their decades of successful proven business concept in digital transformation always using most advanced technology trends. As the first MTWO partner, ICS will promote MTWO technology in the US West Coast Area and target to win fast 10,000 MTWO Users.
To accelerate the development of ICS, RIB decided to invest US$ 1 million, equivalent to 40% shares in the company, mainly utilized in developing the MTWO team, building up ready to go “best practice” products for selected target groups, and penetrating the market as fast as possible. The first year’s target of 10,000 users is expected in the long term to bring up to US$ 6 million EBITDA to RIB every year based on the estimated EBITDA of Euro 500/user/year.
Since April of 2018, RIB and Microsoft has joined forces to deliver MTWO – the world’s #1 vertical cloud for the construction and real estate industry, aiming to help enterprises in the industry to drive productivity gains through digital transformation. In order to accelerate the international roll-out of the MTWO technology, RIB is committed to developing its global MSP partner network and leveraging Microsoft’s partner community to win 100,000 users in the first two years and up to 2 million users in the midterm. The signing with ICS executes a great step toward RIB’s target to develop 3-5 MSP partners in Q4 this year.
Tom Wolf, Chairman and CEO of RIB, commented: “We are very excited to have ICS as our first MSP partner from Redmond. Redmond is the heart of Microsoft, and cradle of the greatest technologies in the world. The signing with ICS in the most exciting place marks the great kick-off of our global network 4.0 development. RIB will be developing more MSP partners in the rest of the world to offer MTWO platform to construction and real estate companies, enabling them to stay competitive in the digital economy.”
“The investment of RIB in ICS Support confirms our excellent market position as a full-service partner for companies which utilize state of the art IT solutions to improve their business. We look forward to working with the RIB team and we are confident that we will achieve the target of over 10,000 MTWO users in the first 24 months of our collaboration. Our team is excited for the growth opportunities and ready to start the transformation process in the construction and real estate industries”, says Jeff Mack, Founder and President of ICS Support.
Integrated Computer Systems Support (ICS Support) is a full-service partner for small to midsized organizations who want to leverage technology as a strategic business advantage. With decades of experience and well over a thousand successful projects under our belt, we understand how to craft business and most advanced IT solutions tailored to the complex challenges and unique vision of each customer.