RIB Software AG, a based provider of software applications that cover the entire value creation chain in the construction, plant engineering and infrastructure sectors, has received a minority investment from SAP AG (NYSE: SAP) and Hasso Plattner Ventures.
Following the investment, RIB and SAP will cooperate to offer solutions intended to improve efficiency and to increase value creation in executing and monitoring construction and business processes.
Commenting on the round, Michael Sauer, executive board member of RIB, said: “As part of the SAP ecosystem, our solutions integrated with business processes using the SAP infrastructure will significantly help advance our global market share and generate international growth.
“Working together with SAP, we plan to deliver a thoroughly industrialized and digitalized platform for handling construction processes. By using these technologies, a reduction in total construction costs of up to 30 percent may occur, based on what was experienced by other industries, such as the automotive and aerospace industries”.
Kevin Ichhpurani, senior vice president, SAP AG, added: “We’re pleased to make this investment in RIB, and look forward to co-innovating with them to deliver benefits to the entire construction industry.
“Customers may benefit from the delivery of innovative, powerful, modular and integrated solutions that help them handle their projects, potentially leading to increased efficiencies, improved business processes and reduced costs.
“RIB and SAP together can offer an integrated solution for the construction industry, as well as industries with similar processes, such as leveraging CAD information to estimate costs and execution processes”.