Bentley Systems Completes Acquisition of Power Line Systems, Global Leader in Software for Power Transmission Engineering

Rhea-AI Summary

Bentley Systems (NASDAQ: BSY) has successfully completed its acquisition of Power Line Systems for approximately $700 million in cash. Power Line Systems specializes in software for designing overhead electric power transmission lines. The acquisition, finalized with TA Associates, is expected to enhance Bentley's infrastructure engineering software portfolio. Bentley will provide a full-year financial outlook, including the impact of this acquisition, on March 1, 2022.

Positive

• Acquisition of Power Line Systems for $700 million strengthens Bentley's software offerings.
• Enhances capabilities in overhead electric power transmission line design.

Negative

• None.

EXTON, Pa.--(BUSINESS WIRE)-- Bentley Systems, Incorporated (Nasdaq: BSY), the infrastructure engineering software company, today announced the completion of its acquisition of Power Line Systems—a leader in software for the design of overhead electric power transmission lines and their structures—from private equity firm TA Associates for approximately $700 million in cash (for a debt free business and subject to final working capital adjustments).

When announcing its full year 2021 operating results (scheduled for March 1, 2022), Bentley Systems will provide its full‑year 2022 financial outlook, reflecting the inclusion of Power Line Systems.

About Bentley Systems

Bentley Systems (Nasdaq: BSY) is the infrastructure engineering software company. We provide 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 organizations 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, mining, and industrial facilities. Our offerings include MicroStation-based applications for modeling and simulation, ProjectWise for project delivery, AssetWise for asset and network performance, Seequent’s leading geosciences software portfolio, and the iTwin platform for infrastructure digital twins. Bentley Systems employs more than 4,000 colleagues and generates annual revenues of more than $800 million in 172 countries. www.bentley.com

© 2022 Bentley Systems, Incorporated. Bentley, the Bentley logo, AssetWise, iTwin, MicroStation, ProjectWise, Seequent, and Power Line Systems are either registered or unregistered trademarks or service marks of Bentley Systems, Incorporated or one of its direct or indirect wholly owned subsidiaries.

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Christine Byrne

+1 203 805 0432

Christine.Byrne@bentley.com

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Source: Bentley Systems, Incorporated

FAQ

What is the value of Bentley Systems' acquisition of Power Line Systems?

Bentley Systems acquired Power Line Systems for approximately $700 million in cash.

When will Bentley Systems report its financial outlook after the acquisition?

Bentley Systems is scheduled to report its full-year financial outlook on March 1, 2022.

What impact does the acquisition of Power Line Systems have on Bentley Systems?

The acquisition is expected to enhance Bentley's infrastructure engineering software offerings.

Who was the seller in the acquisition of Power Line Systems?

Power Line Systems was acquired from private equity firm TA Associates.