RIB AG (RSTA) signs iTWO Phase III with Leading North European Construction Company YIT

5D leaders continue to have project delivery software success in EU

Helsinki, FINLAND. RIB Software AG has signed a Phase III US, 5 million agreement with YIT Corporation; the NASDAQ OMX Helsinki listed company and leading European developer, builder, and service provider in residential, business premises, and infrastructure construction.

YIT, the € 2 billion construction company, is the largest residential construction company in Finland, and the largest foreign residential construction company in Russia. With the strategy partnership with RIB, YIT plans to strengthen its high competence in all businesses in Finland, Russia, the Baltic countries, and Central Eastern Europe. “YIT is one of the world-wide pioneers in 5D end-to-end Technology.” Said Thomas Wolf, CEO RIB AG Hong Kong. “The strategy partnership gives us a strong confirmation that world-leading construction companies are committing to replace their in-house tools by standardizing on an integrated solution, which is a thrilling direction for RIB.”

“As a strong player in the European market, which is highly developed, YIT has shown its management level, quality level, and trustful partnership spirit – similar to our RIB’s philosophy”, said Michael Sauer, CFO RIB AG Stuttgart, “This will allow RIB to introduce iTWO’s 5D end-to-end technology to other European construction firms, and grow this attractive market with high IT standard,” said Sauer.

Peter Sanio, CTO RIB AG Stuttgart said, “We are proud that YIT as the European leading construction company and RIB as market leader in 5D end-to-end Technology agree on running together, and to bring the newest technology to the construction industry. It gives us confidence that the trend of moving in-house tools to a standard solution is unstoppable and will be widely adopted through 2020.”

About RIB Group

With over 15,000 customers, the RIB Group based in Stuttgart is a global leading provider of 5D end-to-end enterprise solutions for the construction industry. Founded in 1961, RIB  holds a leading position in the global market. The world’s largest construction companies, public administration offices, architecture and engineering firms; as well as large companies in the industrial and plant construction segment around the globe optimize their planning and construction processes with the aid of RIB software systems. The company is represented with its’ own branch offices in the EMEA, North America, and APAC regions. Further information can be found at: www.rib-software.com.

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