RIB Software AG signs Phase II iTWO License deal 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.

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