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RIB invests into VIM AEC, Montreal Canada / Atlanta USA, (M&A Deal 2/2020), a start-up and pioneer to bring augmented reality into the building vertical, founded by the Revit Pioneer Arol Wolford

Back21.01.2020

DGAP-News: RIB Software SE / Key word(s): Investment
21.01.2020 / 12:35
The issuer is solely responsible for the content of this announcement.

21-January-2020

RIB invests into VIM AEC, Montreal Canada / Atlanta USA, (M&A Deal 2/2020), a start-up and pioneer to bring augmented reality into the building vertical, founded by the Revit Pioneer Arol Wolford

Montreal Canada / Atlanta USA, 21 January 2020. RIB Software SE, the world's leading provider of iTWO 4.0 Cloud enterprise platform technology is proud to be invited to invest into Arol Wolford's (one of the founders of Revit (today Autodesk)) latest start-up operation VIM AEC. VIM AEC is an extension of BIM helping to link design kernels such as Revit with rich data and create visualization in the cloud, on mobile devices and AR/VR much faster. This preserved design integrity, reduces risks and errors affecting re-work and efficiencies. It enables engineers and architects to use BIM 3D Models within special classes like Magic Leap, Oculus Rift or Samsung VR, combines the Design with Data out of the MTWO platform and create a new virtual working environment for easy cooperation for the next generation of BIM supporting our strong relationship with Autodesk to get even more value out of BIM on an integrated online platform.

It is planned to launch the first version of VIM AEC on the MTWO platform in H2 2020. Arol Wolford has set up a team of 20 high professional BIM VR and AR experts in Toronto and in Atlanta to close the gap between gaming and construction industry when it comes to user experience in the new virtual 3D world. The target is to transfer Revit models over VIM technology within minutes into a cloud based visual collaboration platform which allows users to walk or fly through buildings to better understand, inspect, analyze, optimize, creative discuss and collaborate with others. The users of VIM AEC technology will create an almost real world around themselves like consumers know from leading computer games.

Arol Wolford, CEO of VIM AEC: "We have decided to invite RIB to invest into our start-up because we believe that the RIB MTWO platform which can be for example used complementary to the Autodesk BIM 360 platform will be a leading cloud platform for millions of users in the future. To integrate BIM Data from 3D Design with iTWO cost and time data and to experience all combined data within a first-class VR experience on a gaming industry standard can be a game changer for the building vertical. RIB offers the powerful MTWO platform to provide all computing power and managed services to run such data in the most efficient way. We are looking forward to the cooperation with RIB."

Mads Bording, RIB Group COO: "Arol Wolford is one of the most recognized BIM Visionaries and pioneers in the world. He was not only one of the founders of the leading BIM design software called Revit, but he also developed Building Systems Design in Atlanta and supported many research projects in leading universities around the globe. RIB's target is to win 2 Million USERS for our MTWO platform and to invest into technologies which can support the platform users in the digital transformation process. With our international R&D capacity, our deep knowledge in cost and time data, our worldwide new distribution network in EU, India, Australia, UK, Middle East and USA out of hundreds of construction software experts and with our global RIB Cloud platform MTWO, we believe we can bring the right infrastructure to the start-up to offer a new digital working experience for the building vertical in the future."

Michael Woitag, RIB MTWO: "To develop a new exciting working experience for millions of people working in the building vertical is an exciting project which has the potential to transform the building industry into one of the most advanced industries. In RIB Group, we are working on the newest mobility concepts in our R&D centers in Germany, India, China and USA. We believe that the iTWO glass technology development will become a key technology in the future. With VIM AEC, we are adding a perfect North American R&D team into our global alliance and offer our clients to experience our iTWO data on the MTWO platform in a fantastic way."

About VIM AEC

VIM AEC is the latest successful company launch in a series of four decades of industry leadership in Architecture, Engineering and Construction by Arol Wolford. From the introduction of accessible construction data to the industry in the 1980's, to the advent of BIM, launch of Revit and successful real-time immersive platforms. VIM AEC led by Arol Wolford is a powerful new technology to enable better designed and built buildings.

About RIB Group

RIB Software SE is an innovator in building and construction industry. The company creates, develops and offers cutting-edge digital technologies for construction enterprises and projects across various industries worldwide. iTWO 4.0, RIB's flagship cloud-based platform, provides the world's first enterprise cloud technology based on 5D BIM with AI integration for construction companies, industrial companies, developers and project owners, etc. With over 50 years of experiences in construction industry, RIB Software SE focuses on IT and engineering and becomes the pioneer in construction innovation, exploring and bringing in new thinking, new working methods and new technologies to enhance construction productivity. RIB is headquartered in Stuttgart, Germany and Hong Kong, China, and listed on the prime standard Frankfurt Stock Exchange since 2011. With over 1,500 talents in more than 30 locations worldwide, RIB is targeting to transform the construction industry into the most advanced and digitalized industry in the 21st century.



21.01.2020 Dissemination of a Corporate News, transmitted by DGAP - a service of EQS Group AG.
The issuer is solely responsible for the content of this announcement.

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