We are proud to announce the successful conclusion of the first MTWO MSP partnership and investment agreement with ICS, a Microsoft certified partner from Redmond, where the global headquarters of Microsoft is located.
This is the most significant step forward following the MTWO initiative with Microsoft and capital increase in H1 2018. The agreement marks the milestone of RIB entering the next leap of development – forming a global RIB iTWO partner network to achieve higher targets and develop the company from a SME to a large enterprise. Our target is to win 3 to 5 MSP partners in 2018.
Being one of the leading managed services providers located in the west coast of the US, ICS joins the MTWO partner network with their decades of successful proven business concept in digital transformation always using most advanced technology trends. As the first MTWO partner, ICS will promote MTWO technology in the US West Coast Area and target to win fast 10,000 MTWO Users.
To accelerate the development of ICS, RIB decided to invest US$ 1 million, equivalent to 40% shares in the company, mainly utilized in developing the MTWO team, building up ready to go “best practice” products for selected target groups, and penetrating the market as fast as possible. The first year’s target of 10,000 users is expected in the long term to bring up to US$ 6 million EBITDA to RIB every year based on the estimated EBITDA of Euro 500/user/year.
Since April of 2018, RIB and Microsoft has joined forces to deliver MTWO - the world's #1 vertical cloud for the construction and real estate industry, aiming to help enterprises in the industry to drive productivity gains through digital transformation. In order to accelerate the international roll-out of the MTWO technology, RIB is committed to developing its global MSP partner network and leveraging Microsoft's partner community to win 100,000 users in the first two years and up to 2 million users in the midterm. The signing with ICS executes a great step toward RIB's target to develop 3-5 MSP partners in Q4 this year.