August 5, 2019 / 8:23 AM / 21 days ago

RIB Software open for anchor investor to boost digital strategy

BERLIN (Reuters) - RIB Software is open for talks with potential long-term investors that could help the German construction IT developer roll out its digital strategy, Chief Executive Thomas Wolf told business daily Handelsblatt.

Wolf, who is also the company’s biggest shareholder with a stake of around 17%, told the paper he was not looking for a strategic partner, “but we are open for talks that can help us over the next decade”.

The report cited Wolf as saying a third-party investment of 20% to 30% of company’s share capital would be an option.

“We are thinking of people who want to digitally transform the construction sector,” he was quoted as saying, adding that a potential investor could be a company pursuing strategic interests or private equity.

Potential investors in RIB could include Autodesk, a U.S. competitor, or Hong Kong-based Glodon, as well as major business software players SAP and Oracle, financial industry sources have said.

Activist investor ENA Investment has, meanwhile, built a stake of nearly 10% in RIB Software, Wolf told Handelsblatt.

RIB Software is building up a digital cloud platform to serve construction businesses similar to Uber’s mobility business or Amazon’s retail platform, the newspaper said.

Reporting by Alexander Huebner, Writing by Tassilo Hummel, Editing by Douglas Busvine and Louise Heavens

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