Supporting RIB Group’s announcement on 26 September 2018 (link below) of the MTWO MSP (Managed Service Provider) partnership and investment agreement with A2K Technologies and PhoenxPLM – there is no doubt this dynamic partnership is set to transform the Australian and New Zealand building and construction industry.
Paul Laycock, CEO of A2K Technologies today commented “A shared objective to deliver new technology and help modernise the future of the Australian and New Zealand construction industry, safeguarding its competitiveness on a global stage, made this partnership a clear and easy choice.”
“We are excited to join forces with RIB Group, and have the upmost confidence in their current, and future technology to provide true cost, time and safety savings to the ANZ construction industry.”
Australia and New Zealand both own a very large construction and infrastructure market because of the size and the mining and resources industry. The annual consolidated CAPEX and OPEX spending in building, infrastructure and mining has reached a remarkable level like countries of UK, France and Germany in the past decades.
Australia’s construction sector (which sits at $367bn in revenue) is currently experiencing a strong start to 2018, with the Australian Industry Group’s (Ai Group) Performance of Construction Index (PCI) reporting a rise of 1.7 points to 56.0 in January, leaving it at a three-month high. The MTWO vertical cloud is exactly what A2K’s 100,000 ANZ user base is waiting for.
This partnership is expected to deliver 10,000 MTWO users by early 2020 in a short-term manner and 100,000 MTWO users in the mid-term. Under the agreement, RIB will invest a total of AUD$ 14.07 million to acquire 40% of A2K and PhoenxPLM shares, out of which AUD$ 2.20 million will be utilized to build and develop the MTWO team across the ANZ region and position MTWO as the leading vertical cloud for the ANZ building and infrastructure market.
“I wish to take this opportunity to acknowledge the professional integrity of Tom Wolf and Mark Kefford of RIB Group and express my personal appreciation for their truly inspirational approach to the future of our continued growth,” said Paul Laycock, CEO of A2K Technologies.