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RENK Increases Stake in Modest Tree

Further Step in Strategy of Digitalisation

RENK has increased its equity stake in Halifax, Canada-based Modest Tree Media, Inc. – a provider of digital tools and services including immersive digital twins and associated tools and extended reality solutions, that enable the visualisation of products and processes through integration of enterprise datasets, the German group announced on 24 August.

By increasing its investment in Modest Tree, RENK strengthens its position as a leading adopter of digital solutions, a growing trend in global manufacturing. This allows RENK to provide innovative products and digital-based services to its customers. “With this investment, RENK is continuing the implementation of its digitalisation strategy,” stated CEO, Susanne Wiegand. “These technologies allow us to generate added value to our customers with new and innovative products regarding extended reality, digital twins and real-time collaboration.”

RENK currently provides digital solutions, such as virtual training and remote digital maintenance, to its customers, and is set to expand its portfolio with new and innovative digital products, such as digital twins.

Working with global manufacturers in aerospace, defence, and automotive, we have seen the accelerated focus on digital solutions, unleashing new business models for training, digital twins, and digital inservice support,” commented Modest Tree founder and CEO, Sam Sannandeji. “Having RENK as a partner helps us to understand the unique and evolving needs of leading digital-focused industrial firms, and to provide leading-edge digital solutions to our global industrial clients.”

(left to right) Emily Smits and Sam Sannandeji (COO and CEO of Modest Tree, respectively)

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Publish date

08/25/2021

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