FOR IMMEDIATE RELEASE
contact: Henry Gordillo email@example.com
Integration Technologies Partners with RIB Software to Expand Its Global Footprint on Cloud, Digital Transformation and Cybersecurity
San Juan, Puerto Rico (January 20, 2020) – Integration Technologies (Intech – https://www.intechsp.com), a leading Managed Solution and Service provider for Hybrid Data Center, Cybersecurity, and Microsoft Cloud Platforms in Puerto Rico and the Caribbean, today announced a majority growth investment from RIB Software and the buyout of Advent-Morro Equity Partners’ long time ownership in Intech. The investment will enable Intech to globally expand its footprint and leadership.
RIB Software SE (https://www.rib-software.com/en/group/home/), headquartered in Stuttgart, Germany and Hong Kong, China, listed on the prime standard Frankfurt Stock Exchange since 2011, and with more than 30 locations worldwide, is the world’s leading provider of Cloud enterprise technology for the building, construction and real estate industries through its iTWO 4.0 platform. In April 2018, RIB and Microsoft announced MTWO – the world’s first vertical cloud platform for the construction and real estate industries. This partnership aims to help companies in the industry achieve productivity gains through digital transformation. To accelerate the international adoption of MTWO technology, RIB is building a global MSP network to leverage Microsoft’s partner communities to attract 100,000 users by 2020 and up to 2 million users in the mid-term.
Intech will work closely with the RIB group of companies and add expertise and scale to the Americas RIB cloud capability. This investment augments the cloud capability for hundreds of American clients in the building vertical with Intech’s strong market position in Puerto Rico and the Caribbean, cloud experience, and English and Spanish language capability. RIB continues its strategic initiative with Microsoft to build up the world’s first vertical cloud for the construction and real estate industries, which account for USD 10 trillion in global expenditure, or 14% of global GDP in 2019, and is expected to grow to USD 14 trillion by 2025 according to a McKinsey Global Institute report.
For Intech, this investment reinforces its strategy to be a global leader for Cloud Solution and Services. The combination with MTWO, RIB and its group of companies strengthens its position as a Global Cloud Partner, which will benefit customers around the world. RIB will leverage Intech’s footprint throughout the Americas and favorable time zone support network to expand its present Americas cloud team so we can continue to fulfil the increasing demand for cloud services. This investment represents an efficient approach for RIB to accelerate MTWO in the Americas. Together, RIB and Intech are targeting to achieve 20.000 MTWO users in the midterm.
The transaction was facilitated by IT ExchangeNet, a leading Microsoft channel mergers and acquisitions firm
“The RIB investment in Intech is another exciting development in our drive to build the largest vertical cloud MTWO over the Microsoft MSP network,” said Tom Wolf, Chairman and CEO of RIB. “I was impressed by Henry Gordillo’s growth path, cloud experience and entrepreneurial spirit. RIB will continue to implement its Cloud and GTM strategy during 2020-2021 and integrate MSP partners around the world. We are moving forward to provide the access of our iTWO technology to at least 80% of the global building and real estate market providing them a competitive edge. We believe that MTWO, the world’s first vertical cloud platform for the construction and real estate industries, is the right option for our target customers.”
“RIB’s investment in Intech is an exciting next step in our journey towards advanced Managed Cloud Solutions and Services,” said Henry Gordillo, Intech’s Founder and CEO. “Our staff has long-standing capabilities on IT solutions and services and have built leading expertise on Microsoft’s Cloud infrastructure and platforms within our region, which places us in unique opportunity to leverage the significant cloud growth and adoption acceleration we are seeing in the Americas. Our team will work closely with RIB Cloud’s headquarters (RIB Cloud/SaaSplaza) and run fully synchronized with offices in Amsterdam, Singapore, and San Diego to leverage the growing Cloud market and digital transformation needs of the Construction and Real Estate verticals in the U.S. and Latin America. Joining forces with RIB and its group of companies, as the leader in this industry, just makes sense for our clients, our staff and our shareholders. We are excited, together with RIB, to leverage this relationship in the cloud market and the construction industry through the distribution and support of MTWO technology on the Microsoft Cloud.
“We are very proud of having been part of the Intech family and to have been able to provide the required growth capital to help Intech’s management team position itself as the premier company in its industry in Puerto Rico” said Cyril Meduña, Managing Partner of Advent-Morro. “Intech is the classical example of how we back talented local entrepreneurs like Henry to build extraordinary companies. The current investment by a world renown company like RIB Software confirms this and is the natural transition to continue Intech’s growth and international expansion.
Founded more than 25 years ago, Intech has a long-standing capability to modernize the digital footprint of organizations. Experts of the company consult, design, transform, and manage secure enterprise-grade cloud solutions and services for networks, unified communications and business-critical applications on Microsoft cloud platforms. The portfolio focuses on Azure, Office 365 and Cybersecurity services and solutions. Intech is projecting a high growth rate in 2020 with a continuous positive EBIT/DA result while investing in the cloud transformation.
For more information about Intech, visit: https://www.intechsp.com
About RIB Software
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
For more information, visit: https://www.rib-software.com/en/group/home/
Advent-Morro Equity Partners, is Puerto Rico’s leading private equity investment firm and has been managing private equity and venture capital investment funds in Puerto Rico since 1989. Advent-Morro has invested in over 60 portfolio companies, primarily backing local entrepreneurs to build companies that are known leaders in the respective industries. Advent-Morro’s portfolio companies employ over 3,000 people in industries such as healthcare, telecommunication, consumer good, finance, entertainment, education, distribution and technology.
For more information, visit: www.adventmorro.com
About IT ExchangeNet
Founded in 1998 by technology CEOs and M&A professionals, IT ExchangeNet is an organized and efficient marketplace for owners of mid-market IT businesses seeking buyers or strategic partners. IT ExchangeNet follows a disciplined and highly targeted process, bringing buyers and sellers together to close deals with transaction values up to $40 million.
To learn more: www.itexchangenet.com
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