Beijing, China and Espoo, Finland - February 7th , 2023

Glodon Company Limited, a digital?building platform service provider, announced today that its subsidiary MagiCAD Group Oy has completed the acquisition of a majority stake in EQUA Simulation AB, the developer of the world's leading building performance simulation software IDA Indoor Climate and Energy (IDA ICE). The companies will join forces to drive sustainability in building services design in the future.

"This is a big step towards completing our vision for sustainable MEP design," comments Jukka Nyman, Managing Director of MagiCAD Group Oy. "Together with EQUA, we offer our customers innovative solutions to minimise the carbon footprint of MEP systems and to optimise the energy consumption of buildings during operations."

"Joining forces with MagiCAD Group opens up new opportunities for EQUA," says Per Sahlin, CEO of EQUA Simulation AB. "We expect our new partner to help us move simulation from expert to mainstream, and that design and refurbishment decisions will be increasingly driven by science rather than tradition and fear of under-sizing."

The EQUA team brings decades of experience in the simulation industry to the MagiCAD Group organisation and enables MagiCAD Group to play an important role in the rapidly developing simulation industry. IDA ICE has been the simulation industry benchmark for the past two decades and is widely used by leading consulting firms such as WSP, Ramboll, Sweco, Arup, and AFRY as well as several leading manufacturers such as Danfoss, Saint-Gobain, Schneider Electric, Swegon, and VELUX.

Sustainability and energy efficiency of the built environment are key areas of focus for building owners, governments, and end users of buildings. For MagiCAD Group, the acquisition perfectly complements the existing solution offering with simulation-based products. The ability to create a unified offering that bridges the gap between siloed solutions provides great potential to drive the business, and sustainability, forward.

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About EQUA

EQUA Simulation AB, founded in 2001 and headquartered in Stockholm, Sweden, is a global leader in simulation software and is known for its expertise, high-quality standards and leading-edge technology development. EQUA's IDA Indoor Climate and Energy (IDA ICE) is a new type of simulation tool that accurately models the building, its systems, and controllers – ensuring the lowest possible energy consumption and the best possible occupant comfort. Customers include Arup, WSP, Ramb?ll, ?F, Sweco, ABB, Skanska, NCC, Uponor, Swegon, Danfoss, Siemens and many more.

About MagiCAD Group

MagiCAD Group , a subsidiary of Glodon Company Limited, is a global software provider with the mission to help engineering, manufacturing and construction companies create better buildings for both people and the planet. With 40 years of experience in Building Information Modelling (BIM), MagiCAD's team of passionate software professionals continues to provide customers with intelligent solutions that make engineering, design, and construction management work quicker, more efficient, and more profitable. MagiCAD software and solutions are used by thousands of companies in over 160 countries, including WSP, Ramboll, AECOM, Arup, SKANSKA, Grohe, Lindab, Schneider Electric, and Aquatherm.