P&A Law Offices advised RIB Group SE expansion of stake in Winjit Technologies

P&A Law Offices advised RIB Group SE expansion of stake in Winjit Technologies 

RIB Software SE, through its affiliate RIB PTE LTD ("RIB Group"), has strengthened its Internet of Things (IoT), Artificial Intelligence (AI), Machine Learning (ML) and Blockchain R&D capabilities by increasing its investment to 51% into leading emerging technology software provider Winjit Technologies Pvt Ltd ("Winjit").

The investment is based on an EBITDA multiple of 7x on expected calendar year 2020 EBITDA.

RIB Software SE is a Germany-based multinational company providing construction and building information modelling (BIM) software to customers in the architecture, engineering, real estate, and process industries.

With over 300 IT experts in New York, Johannesburg, Bangalore, Nashik and Pune, Winjit supports global clients on digital transformation in more than 35 countries, with a strong focus on the US market.

RIB's increased investment in Winjit will strengthen RIB's R&D capability in IoT, AI, Blockchain and Fintech for the Architecture, Engineering and Construction (AEC) industry and accelerate the integration of the best of today's emerging technologies into the MTWO Cloud. This will help to create more connected, smarter and sustainable construction.

Following the first acquisition of 15% in Winjit in August 2019 and reviewing the opportunity presented by the rapid development of IoT, AI, ML and Blockchain technology, RIB Group has increased its investment to 51% in Winjit.

RIB Group also has the option to acquire additional 24.5% in 2021 and the remaining 24.5% in 2022 through call option to become the 100% shareholder of Winjit.

P&A Law Offices advised and assisted RIB Group in structuring, negotiating and finalizing of all definitive documents, executing and closing the transaction. The team was led by Ketan Mukhija (Partner), Gaurav Priyadarshi (Principal Associate), Amit Bhatnotra (Senior Associate) and Karishma Singh (Associate).

Universal Legal, led by Rashi Kapoor Mehta (Partner), advised Winjit on the transaction.