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San Juan, Puerto Rico , January 21, 2020 - Integration Technologies (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.
The transaction was facilitated by IT ExchangeNet (www.itexchangenet.com), a leading Microsoft channel mergers and acquisitions firm.
RIB Software SE (https://www.ribsoftware.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 fulfill 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 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. 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. For more information about IT ExchangeNet, visit: http://www.itexchangenet.com
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