RIB Software AG has signed a Phase II License deal US$ >4 million with a leading power delivery utility in California
Atlanta, GA, USA, 24 July 2014. RIB Software AG the world's leading construction 5D Big Data enterprise project delivery solution provider has signed a Phase II contract (US$ > 4 million) with a regulated public utility in the California region.
A subsidiary of a Fortune 500 company, this California based utility plans on leveraging the iTWO platform to take advantage of Big Data and 3D visualization to enhance the project planning and project delivery process of its electric transmission and substation energy delivery assets. This agreement represents the first iTWO Phase II License agreement including 5 years of maintenance and consulting service with a leading American Utility company.
"We are very excited about delivering iTWO to a client in the American power utility market to support the vision of an integrated and sustainable, model based solution to manage their portfolio of works." said RIB U.S.COST CTO Mickey Carr.
In the current financial year 2014 RIB Group herewith succeed to sign its 9th big deal and thereby conclude 1 Phase III, 8 Phase II and 2 Phase II upgrades in total. Delivery and revenue recognition of the iTWO platform will be mainly in the period between the third quarter 2014 and the fourth quarter 2015.
About RIB Group
RIB Software AG is an innovator in construction industry. The company designs, develops, and offers iTWO technology for the construction industry worldwide. iTWO is the world's first Cloud-based Big Data BIM 5D enterprise solution for construction industry. Since its inception in 1961, RIB Software AG has been the pioneer in construction innovation, exploring and bringing in new technology, new thinking and new working method 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 600 talents located in over 30 offices worldwide, RIB is serving 100,000 clients including construction contractors, developers, owners, investors and governments, in the field of building construction, infrastructure, EPC sector, etc.