Integration Technologies Partners with RIB Software to Expan
SAN JUAN, Puerto Rico, Jan. 23, 2020 /PRNewswire-HISPANIC PR WIRE/ -- 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 1,500 talented staff members and 30 locations worldwide, is the world's leading provider of Cloud enterprise technology for the building, construction and real estate industries. In April 2018, RIB and Microsoft announced MTWO - the world's first vertical cloud platform for the construction and real estate industries, which is expected to grow to USD 14 trillion by 2025 according to a McKinsey Global Institute report. 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 up to 2 million users in the mid-term.
Intech will work closely with the RIB group 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 / Spanish language capability.
For Intech, this investment reinforces its strategy to be a global leader for Cloud Solution and Services, which in combination with RIB group of companies will benefit customers around the world. RIB will leverage Intech's footprint throughout the Americas and favorable time zone support capabilities to expand its present Americas cloud team to continue fulfilling the increasing demand for cloud services and accelerate MTWO adoption.
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 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 technologies within our region, which places us in unique opportunity to leverage the significant cloud adoption acceleration we are seeing in the Americas. Our team will work closely with RIB Cloud's offices in Amsterdam, Singapore, and San Diego to leverage the growing Cloud needs in the Americas. Joining forces with RIB group, as the leader in this industry, just makes sense for our clients, staff and shareholders. We are excited 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 provided the required growth capital to position Intech as a premier IT provider in Puerto Rico" said Cyril Meduña, Managing Partner of Advent-Morro. "It's the classical example of how we back talented local entrepreneurs like Henry to build extraordinary companies. This investment by a world-renowned company like RIB confirms this and is the natural transition to continue Intech's growth and global expansion.
Founded more than 25 years ago, Intech has a long-standing capability to modernize the digital footprint of organizations. Our experts design, transform, and manage secure enterprise-grade solutions and services for networks and unified communications as well as for infrastructure and business-critical applications on Microsoft cloud platforms. The portfolio focuses on Azure, Office 365 and Cybersecurity services and solutions.
For more information about Intech, visit: https://www.intechsp.com
About RIB Software
RIB Software 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 experience in construction industry, RIB Software focuses on IT and engineering and is the pioneer in construction innovation, bringing in new thinking, working methods and technologies to enhance construction productivity. 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
SOURCE Integration Technologies