Stuttgart, Germany, 17 November 2014. RIB acquires a 75% stake in a leading successful international E-Commerce platform for the building and construction industry. After successful launch of iTWO CX (the world leading e-collaboration exchange solution) and iTWO TX (bespoke e-tendering exchange platform), RIB will launch xTWO, a fully integrated e-commerce exchange platform solution, in 2015. xTWO will deliver a global supply chain management and order process for the products needed in the construction process.
Through this investment RIB will engage an expert team under the strong leadership of the German Internet and E-Commerce Pioneer, Thorsten Dressel, who has developed, together with his dedicated international team, a fast growing and successful platform – ICEPRICE. The platform welcomes between 50,000 and 100,000 visitors per month. Orders are most often placed from EU countries including France (48%) and Germany (40%). The platform also serves clients from Austria (2%), Belgium (2%), Switzerland (1.5%), Singapore (1%) and other Asian countries.
RIB intends to connect the new xTWO B2B and B2C platform with specially selected 10,000 RIB B2B clients, currently using RIB iTWO Cloud services, such as TX or CX. The new services will also be available to clients, interested in developing their own digital supply chain management module within the iTWO family.
This week during iTWO World RIB clients will introduce iTWO projects with billions of purchasing volume. The bundling of these purchase quantities on the xTWO platform is the long-term target. Here clients can not only achieve reduced costs but also can use additional e-financial services like iTWO TFX (Trade Finance Exchange solutions) and e-logistics.
We expect revenues of the xTWO Platform to grow by more than 100% in 2015, to upwards of EUR 10 million. Experts estimate, that the entire market in Building and Construction Industry (A/E, EPC, Infrastructure, Resources) will grow from USD 8 trillion today to USD 15 trillion in 2025. Here, RIB expects, that the biggest part of the purchase processes will be managed and executed over cloud based e-solutions. iTWO Technology combined with iTWO LAB Technology provides a cutting-edge, state of the art solution.
The purchase price for the 75% stake was EUR 500,000 based on actual revenues of EUR 5 million. In addition RIB intends to invest EUR 3 million into the new and innovative xTWO operation to grow the business globally and to up-grade the solution for the future needs such as integrated high performance computing.
RIB Software SE is an innovator in construction business. The company creates, develops and offers cutting-edge digital technologies for construction enterprises and projects across various industries worldwide. Its flagship product iTWO 4.0 is the world’s first 5D BIM enterprise cloud solution for construction companies, industrial companies, developers and project owners, etc. 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 more than 900 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.