RENK Group Increases Stake in Digital Twin Provider Modest Tree
Globally active RENK Group said it has completed an additional share subscription and increased its minority stake in Modest Tree Media Inc. Modest Tree, based in Halifax, Canada, provides a range of digital tools and services to manufacturers, including immersive digital twins and the associated digital tools and extended reality solutions, to enable the visualization of products and processes through integration of enterprise datasets.
“With this investment, RENK is continuing the implementation of its digitalization strategy,” said RENK 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 like 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, defense and automotive, we have seen the accelerated focus on digital solutions, unleashing new business models for training, digital twins, and digital in-service support,” said 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.”