The ITB was founded in 1998, first as a private company, then the conversion into a limited company was made in the year 2000.
The founding members were three scientists working at the University of Stuttgart. The basic idea was using the tools of numerical simulation to improve products and reduce development time. Meanwhile, the ITB GmbH is constantly expanding the range of numerical tools.
ITB GmbH is headquartered in Stuttgart-Bad Cannstatt .