DGAP-News: RIB Group continues global growth through acquiring Redstack Pty Ltd, a well-established Software Reseller for the AEC and EPC Industry in Australia

23-October-2019

RIB Group continues global growth through acquiring Redstack Pty Ltd, a well-established Software Reseller for the AEC and EPC Industry in Australia

The RIB Group today announced the signing of the purchase of Redstack Pty Ltd. The acquisition was carried out via the 60% subsidiary A2K Technologies.

Paul Laycock, Global CEO A2K and Chief Global Advisor for RIB Partner Investment Program today said "A2K's investment in Redstack, supported by RIB, will enable the expansion of our position in the Australian market." Redstack is a well-established and respected reseller of software to the Building and Construction market and the manufacturing market in Australia with over 21 years' experience. The company is headquartered in Adelaide, South Australia with another office in Melbourne.

Michael Lachs, Managing Director of Redstack, said "There is a great many synergies between the two businesses, and it made a lot of sense to bring the two together. The strength we bring, will complement the already strong A2K business. I am very excited about our future."

"The addition of the Team and systems into A2K Technologies is a strategic move to provide the ultimate client interaction and transaction engine across the globe" further commented Mr Laycock. I am also very excited about being able to offer our clients the best solutions in the 3D printing world. This has been of high interest to the business as we were very early to recognise this being the largest disruptive technology shift since the internet.

RIB has acquired 100% of Redstacks' shares via its 60% subsidiary A2K at a total cost of $2,764,000.00 AUD and the business will roll 100% into the A2K brand.

Together, A2K, RIB and Redstack are targeting to win 10,000 MTWO users by 2020 and 100,000 MTWO users in the mid-term, whilst supercharging its continued growth of Autodesk solutions in Australia.

"MTWO is targeting to win 2 million users worldwide in the mid-term and is today one of the most advanced cloud-based enterprise solutions in the AEC and EPC industry" said Mr Laycock.

Mr Laycock went on to say, "We will continue to focus on executing our announced investment strategy and integrate MSP partners in other areas of the world to offer the MTWO platform to more Construction and Real Estate companies to offer access to our MTWO Technology to at least 80% of the global market."

A2K Technologies is excited to have Redstack as its most recent announcement in its plan of a global corporation to provide solutions to the Architectural, Construction, Engineering and Mechanical Engineering business sectors.

About A2K Technologies

A2K Technologies fosters innovation through delivering software and hardware solutions, consulting, training, development and managed services.

Our highly knowledgeable and industry-experienced staff from the Architecture, Engineering, Construction, Infrastructure, and Manufacturing sectors enhances our customers' organisational capabilities, to deliver on project outcomes and differentiate from the competition.

With a great footprint throughout the ANZ region, A2K has strategic partnerships with many major software and hardware vendors, including Autodesk, Microsoft, Adobe, HP, Bluebeam, Ultimaker, Symantec, and Citrix.

We have become a trusted technology advisor to our customers through the breadth and depth of our service offering and technical expertise, our commercial flexibility and high levels of customer service and understanding. Think technology. Think A2K.

About Redstack

Redstack is a manufacturing and construction industry technology leader, servicing all facets of the Australian market from sole traders to corporate business and government. With 21 years of Australian experience we provide the expertise, training and support to assist companies with their realisation of increased productivity from technology advancements. Supporting high profile brands like Autodesk, Markforged, Ultimaker, Formlabs and Dremel.

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 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 30 locations worldwide, RIB is targeting to transform the construction industry into the most advanced and digitalized industry in the 21st century.