Bentley Systems completes Seequent acquisition
Infrastructure software provider Bentley Systems has acquired Seequent, but the latter is to retain its brand and unique identity.
INFRASTRUCTURE software provider Bentley Systems has announced the completion of its acquisition of New Zealand business Seequent Holdings, for about $900 million in cash plus 3,141,342 class B shares.
When announcing its second quarter 2021 operating results (scheduled for August 10) Bentley Systems is to update its full‑year 2021 financial outlook, reflecting the Seequent inclusion.
Seequent is to retain its brand and unique identity, operating as a standalone business unit within Bentley with Seequent’s chief executive, Graham Grant, reporting to Bentley’s chief product officer Nicholas Cumins.
In a public statement, Graham Grant indicated that he was positive about the change.
“We are delighted to be a part of the Bentley family because together we are much greater than the sum of our parts,” Grant said. “It is a great privilege to be entrusted with the responsibility to continue our dynamic momentum and high growth rate.
“With a shared vision of infrastructure for life, we can help our customers unlock the power of connected people and products.”
Bentley Systems provides innovative software to advance the world’s infrastructure – sustaining both the global economy and environment.
“Our industry‑leading software solutions are used by professionals, and organisations of every size, for the design, construction, and operations of roads and bridges, rail and transit, water and wastewater, public works and utilities, buildings and campuses, and industrial facilities,” a Bentley spokesperson said.
“Our offerings include MicroStation‑based applications for modelling and simulation, ProjectWise for project delivery, AssetWise for asset and network performance, and the iTwinplatform for infrastructure digital twins.”
Bentley Systems employs more than 4,000 staff and generates annual revenues of more than $800 million in 172 countries.
The company also is known for its innovations in the expanding area of digital twins technology around the world.