RIB Software AG (RSTA) has signed an iTWO 5D Big Data Phase II deal with MT Højgaard, Denmark
Stuttgart, Germany, 05 January 2015. MT Højgaard A/S from Copenhagen, Denmark and RIB Software AG have concluded a Phase II deal for the introduction of the iTWO 5D Big Data end-to-end enterprise solution end of December 2014. The deal includes the iTWO 5D Big Data Platform with the web-based tender platform iTWOtx and the new web-based iTWOcx from Denmark. MT Højgaard A/S is one of the largest construction companies in Denmark and one of the TOP construction companies in the Nordic Region.
Torben Biilmann, President and CEO of the MT Højgaard Group says "The Group invests DKK 100 million including internal resources over three years to become a leader in digital construction - also known as Virtual Design and Construction, VDC. The agreement with RIB means we can put additional momentum to our efforts to make digitization and VDC an even more integral part of MT Højgaard's way of working. iTWO 5D Big Data allows us to simulate the entire production process virtually, before we implement the project in practice, and hence we can reduce many of the risks normally encountered in the construction industry. With this new working method and the new iTWO PCI (Project Cost Insurance) Munich Re will be able to offer our clients an insurance for cost overruns."
Michael Sauer, CFO of the RIB Group stated "The Technology Partnership with the leading construction company in Denmark will help us to fasten the Introduction of the new technology and working method iTWO BIM 5D in the Nordic Region. I was very impressed that MT Højgaard has opened the first iTWO 5D Lab in Copenhagen end of December and will open several more iTWO 5D Lab's, which is a central part of the iTWO 5D working method, first simulate building projects virtually before the physical execution starts. 36% of the deal amount was recognized end of December, 64% will be recognized within the next 48 months."
Mads Bording, CEO of RIB in Copenhagen stated "I am very pleased to have entered in cooperation with MT Højgaard, which is the first large deal in the Nordic Region and a strong and visionary partner for us. I am confident that this region is moving very fast in adapting the new Technology of iTWO 5D BIM and the new working methods regarding iTWO."
About MT Højgaard
MT Højgaard Group is one of the leading construction and civil engineering companies in the Nordic Region. Projects include design, construction and refurbishment of plants, bridges, residential housing, commercial and industrial buildings, and foundations for offshore wind turbines. The company has activities throughout Denmark, as well as focused international activities. MT Højgaard generates revenues of DKK 7 billion annually and employs 4,000 people. Website: mth.com
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 the construction business worldwide. iTWO today is the world's first Cloud / License based Big Data 5D BIM 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 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, etc.