Bentley Systems Completes Acquisition of Seequent, Global Leader in 3D Modeling Software for the Geosciences

Rhea-AI Summary

Bentley Systems, Incorporated (Nasdaq: BSY) has completed the acquisition of Seequent Holdings Limited for approximately $900 million in cash and around 3,141,342 BSY Class B shares. This transaction is aimed at enhancing Bentley's portfolio in infrastructure engineering software and is expected to contribute positively to the company's financial outlook. Bentley will provide an update on its full-year 2021 financial outlook during its second quarter results announcement scheduled for August 10, 2021.

Positive

• Acquisition of Seequent expected to enhance product offerings and market position in infrastructure engineering software.
• Strategic growth opportunity that may lead to potential revenue increase.

Negative

• Acquisition cost of approximately $900 million may strain financial resources.

Bentley Systems, Incorporated (Nasdaq: BSY), the infrastructure engineering software company, today announced the completion of its acquisition of Seequent Holdings Limited, for approximately $900 million in cash (for a debt free business and subject to final working capital adjustments) plus 3,141,342 BSY Class B shares.

When announcing its second quarter 2021 operating results (scheduled for August 10, 2021) Bentley Systems will update its full‑year 2021 financial outlook, reflecting the inclusion of Seequent.

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, and industrial facilities. Our offerings include MicroStation‑based applications for modeling and simulation, ProjectWise for project delivery, AssetWise for asset and network performance, 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

© 2021 Bentley Systems, Incorporated. Bentley, the Bentley logo, AssetWise, iTwin, MicroStation, ProjectWise, and Seequent are either registered or unregistered trademarks or service marks of Bentley Systems, Incorporated or one of its direct or indirect wholly owned subsidiaries. All other brands and product names are trademarks of their respective owners.

View source version on businesswire.com: https://www.businesswire.com/news/home/20210617005659/en/

FAQ

What is the value of the Bentley Systems acquisition of Seequent?

The acquisition of Seequent Holdings Limited by Bentley Systems is valued at approximately $900 million in cash and 3,141,342 BSY Class B shares.

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

Bentley Systems will update its full-year 2021 financial outlook during its second quarter operating results announcement scheduled for August 10, 2021.

What impact will the acquisition of Seequent have on Bentley Systems?

The acquisition is expected to enhance Bentley Systems' product portfolio in infrastructure engineering software, potentially leading to revenue growth.

Is the acquisition of Seequent a debt-free transaction?

Yes, the acquisition of Seequent Holdings Limited is for a debt-free business.