RIB Software AG (RIB) acquires 25% of the shares of Exactal Group Limited, a Hong Kong-based software producer for the construction industry
Stuttgart, Germany, 25 November 2016. RIB Software AG, the world's leading provider of 5D BIM Big Data technology for the construction industry, today announced the acquisition of 25% of the shares of Exactal Group Limited, a Hong Kong-based software producer for the construction industry.
This cooperation allows the enhanced integration of 2D CAD files into the calculation process in iTWO, besides model-based 3D work.
Helmut Schmid, CTO of RIB Software AG, highlights the benefits of the partnership: "With Exactal technology, we will be able to simplify the transition for our iTWO community to model-based workflows by using the add-on of the 2D quantity determination. We are very pleased to have found a partner with Exactal, who, like RIB, has a high level of competence in construction industry. By investing in Exactal, we will maximize the synergy effects and create opportunities that will benefit both companies."
Mark Kefford, Executive Chairman & Founder of Exactal adds: "We are pleased to welcome RIB into the Exactal group as both a strategic investor and an important customer. The RIB investment in Exactal is further confirmation of our world leading solution for quantity takeoff from 2D Data and we look forward to working closely with them in the future in this expanding marketplace."
About Exactal Group Limited
Established in Brisbane, Australia in 2003 to develop software specifically for the quantity surveying and estimating market, Exactal has continued to expand its worldwide presence. It now has offices in Brisbane & Melbourne in Australia, London & Manchester in the UK, Auckland in New Zealand, Austin in the USA, Kuala Lumpur in Malaysia, and Singapore and Hong Kong. The company also has sales and channel partner support across much of the globe. The main product CostX(R) provides an integrated BIM and 2D on-screen measurement solution with a unique integration between the cost estimates and the elements on the drawing files that the estimate represents. This approach keeps estimates up to date and allows drawing revisions to be easily evaluated to eliminate traditional scope creep in construction projects.
About RIB Group
RIB Software AG is an innovator in construction business. The company creates, develops, and offers iTWO³ - new thinking, new working method and new technology - for construction projects across various industries worldwide. iTWO today is the world's first Cloud / License based Big Data 5D BIM enterprise solution for construction companies, industrial companies, developers and investors. Since its inception in 1961, RIB Software AG 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 about 700 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.
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