RIB Software SE to Purchase a 60% stake in U.S. CAD
IRVINE, Calif.–(BUSINESS WIRE)–U.S. CAD announced today that it sold 60% interest of the company to RIB Software SE, a global provider of building and construction technology solutions, with current shareholders to retain 40% interest in the business.
News facts:
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Through this strategic partnership, U.S. CAD and RIB Software will further extend their leadership in the U.S. construction technology market by delivering innovative solutions and related consulting services enabling construction organizations to automate and transform project delivery at every stage of the process.
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In addition, U.S. CAD joins a global network of Autodesk Platinum Partners within the RIB Software family: A2K Technologies, based in Australia, and Cadline, from the United Kingdom. This global collection of premier value-added resellers will have the capacity to mobilize and create a superior customer offering.
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With a market capitalization of approximately $1 billion, RIB Software has the ability to enable U.S. CAD to continue its growth trajectory of acquisition investments to expand its market presence in various geographic markets across the United States.
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U.S. CAD CEO, Daniel Counts, will focus his attention on the healthy scaling of the business and driving the overall growth in the United States by way of future acquisitions and expansion into additional markets. He will work alongside the current president, Jeff Rachel, who will focus on strategy, execution, and growth of multiple business lines, including the RIB product portfolio across all business areas.
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The strategic partnership will also allow U.S. CAD to offer an out-of-the-box MTWO and iTWO 4.0 cloud solution for contractors, real estate developers, and owners delivering an accelerated time to value. The offering will be available in January 2020 and will include up to 100 SaaS modules, content, data, reports, best practice workflows, and complete IT cloud infrastructure.
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U.S. CAD is one of the largest Autodesk Platinum Partners in North America, including the designation of Autodesk construction-specialized, and is a Bluebeam Platinum Partner recognized as the 2018 and 2019 North America Partner of the Year.
Supporting quotes:
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Daniel J. Counts, Chief Executive Officer, U.S. CAD
“As a result of this new partnership, I’m even more motivated to scale our business throughout the USA by focusing on our core values and internal team members, while trusting them to deliver the most compelling solutions to our customers. With Autodesk BIM 360 and MTWO from RIB Software, U.S. CAD will scale these technologies and increase adoption throughout the USA. I’m also extremely excited to expand throughout the country by way of strong organic growth and continuing to join with other viable companies through acquisitions. We’ve been very successful bringing in new companies to join the U.S. CAD team and realize our vision, and that will continue and accelerate. Having RIB Software as a partner in the business that values the entrepreneurial spirit and embraces rapid, but healthy growth is ideal. I look forward to working closely with the RIB team on this next chapter of U.S. CAD.”
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Paul Laycock, Global CEO A2K Technologies, Chief Global Advisor for RIB Partner Investments
“Investing in U.S. CAD, supported by RIB, will enable the expansion of our global positioning into the services and customer service part of the overall businesses, encompassing in excess of 100,000 users globally. Through building a consolidated approach and leveraging world-class resources, we are set for a very strong platform in the future.”
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Jeff Rachel, President, U.S. CAD
“Another significant and strategic aspect of this partnership with RIB Software is that U.S. CAD joins a network of other leading Autodesk Platinum Partners throughout the world, that are also a part of the RIB family, including A2K Technologies in Australia and Cadline in the U.K. By leveraging and contributing to this global network of strong AEC technology partners, U.S. CAD, A2K Technologies, and Cadline are well positioned and resourced to meet the growing demands of the global AEC community.”
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Tom Wolf, Chief Executive Officer, RIB Software SE
“Partnering with Daniel Counts and Jeff Rachel, a pair of world-class players in our global entrepreneurial leader team, is a milestone for RIB to win the American market for our MTWO platform and to win 2 million users in the midterm. The U.S. CAD team knows how to introduce construction technology in the U.S. market and how to rapidly scale construction products.”
About U.S. CAD
U.S. CAD is a leading provider of architecture, engineering, and construction (AEC) technology and consulting services. Founded in 1999, U.S. CAD is an Autodesk and Bluebeam Platinum Partner delivering BIM and AEC software, training, support, production and scanning services, and virtual and augmented reality solutions designed for organizations of all sizes for better project outcomes from conception through construction. Our mission is to help clients win more, produce more, and achieve more. Visit www.uscad.com.
About RIB Software SE
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 brining 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 1,400 talents in more than 20 countries worldwide, RIB is targeting to transform the construction industry into the most advanced and digitalized industry in the 21st century.
Contacts
Marie Salcedo
U.S. CAD
(877) 648-7223 ext. 250
Marie.Salcedo@uscad.com
