DGAP-News

Flex and RIB Software Join Forces to Transform Building and Housing Industry - Joint Venture 'YTWO Formative' Combines World Leading 5D BIM Software and Supply Chain Solutions

DGAP-News: RIB Software AG / Key word(s): Joint Venture
Flex and RIB Software Join Forces to Transform Building and Housing Industry
- Joint Venture 'YTWO Formative' Combines World Leading 5D BIM Software and
Supply Chain Solutions

22.11.2016 / 13:24
The issuer is solely responsible for the content of this announcement.

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22-November-2016

Flex and RIB Software Join Forces to Transform Building and Housing
Industry - Joint Venture "YTWO Formative" Combines World Leading 5D BIM
Software and Supply Chain Solutions

SAN JOSE, Calif. and STUTTGART, Germany, November 22, 2016 - Flex (NASDAQ:
FLEX), the Sketch-to-Scale(TM) solutions provider that designs and builds
intelligent products for a connected world, and RIB Software AG (TecDAX:
RIB), the world's leading provider of 5D Building Information Modeling
(BIM) Big Data technology for the construction industry, have formed a
joint venture (JV) that will transform the $9 trillion building and housing
industry.

The joint venture will operate under the name YTWO Formative, providing an
open platform, cloud-based software solution that combines the strength of
RIB's iTWO 5D BIM software capabilities with Flex's manufacturing, supply
chain management and logistics expertise. By combining the two companies'
strengths, YTWO Formative offers a fully integrated enterprise software
platform that will take a project all the way from full virtualization
which includes time, cost, materials and a complete 3D model to supply
chain execution and projection completion.

YTWO Formative is an integrated, intelligent platform that eliminates the
need for investment in expensive IT systems and software licenses and
allows customers to create accurate, detailed construction project plans,
facilitated by a catalog of home and modular construction products,
providing critical intelligence on pricing and lead times. The JV aims to
modernize practices in the fields of architecture, engineering and
construction.

"RIB provides the best enterprise solution available for construction
planning and management in this $9 trillion (Oxford Economics, Global
Construction 2030, November 2015) and growing industry, and Flex is the
leader in global supply chain solutions. With our combined expertise in
YTWO Formative, we are building a smarter, more connected system, using
modern software architecture and real-time information, which will reduce
costs by up to 50 percent, shorten cycle times, improve efficiency and help