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Bentley Systems (Nasdaq: BSY) announced the acquisition of Vetasi, an international consultancy focused on enterprise asset management (EAM) solutions, particularly IBM Maximo. This acquisition enhances Cohesive Group's capabilities, adding over 200 experts across Europe, Africa, and ASEAN. The integration aims to leverage synergies in cloud hosting and low-code development to provide enhanced service delivery. The deal positions Cohesive to better serve clients and expand its geographic reach, particularly in the EMEA and Asia Pacific regions.
Positive
Acquisition of Vetasi enhances Cohesive's capabilities in digital engineering systems integration.
Adds over 200 skilled professionals in EMEA and Asia Pacific, improving service delivery and global scale.
Strengthens Cohesive's offerings in IBM Maximo cloud hosting and low-code development.
Negative
None.
Enhancing its Position as a Global Partner for EAM Operational Excellence, Expanding Market Capacity and Geographical Reach
EXTON, Pa.--(BUSINESS WIRE)--
Bentley Systems, Incorporated (Nasdaq: BSY), the infrastructure engineering software company, today announced that its Cohesive Group digital integrator business has acquired Vetasi, a leading international consultancy specializing in enterprise asset management (EAM) solutions, with a strong focus on IBM Maximo.
Image courtesy - Getty Images
Vetasi brings to Cohesive the largest IBM Maximo consultancy team across Europe, Africa, and ASEAN countries, with headquarters in the United Kingdom and operations based in Poland, Indonesia, South Africa, Spain, Ukraine, and Australia. In addition to EAM resources, Vetasi deepens the Cohesive team with additional strategic advisory capabilities and adds to the Cohesive services catalog Maximo cloud hosting capabilities, expertise in low-code development, and strong real estate and facilities management domain knowledge. By virtue of the combination with Cohesive, Vetasi’s clients can benefit from the multidiscipline scope of a world-leading digital integrator, combining greater global scale with local agility to leverage more value from their asset portfolios.
Cohesive was founded by Bentley in 2020 as a digital engineering systems integrator to help infrastructure owner-operators deliver transformational and sustainable outcomes. Cohesive has achieved consistent significant growth and continues to win substantial new projects, notably in the utilities, transport, and energy sectors. Prior to Vetasi, Cohesive has acquired multiple organizations in the EAM and digital twin advisory space to increase service delivery capacity, including prioritizing geographical reach for significantly growing opportunities in the EMEA and especially Asia Pacific regions.
David Hollister, Bentley Systems’ chief investment officer, said, “The acquisition of Vetasi, with over 200 colleagues in EMEA and Asia Pacific, contributes substantially towards our objectives for Cohesive as an independent digital integrator, largely filling any remaining gaps to achieve comprehensive global self-sufficiency and economies of scale across the full lifecycle of infrastructure assets. Additionally, Vetasi significantly accelerates Cohesive’s learning curve in cloud hosting provisioning for Maximo. Cohesive’s growing success will show the way for engineering firms to create and curate digital twin data-centric cloud services for infrastructure owner-operators, increasing opportunities for Bentley’s market-leading iTwin Platform.”
Mark Bew, CEO of Cohesive, said, “Acquiring Vetasi enables Cohesive to consolidate its position as a global leader in digital engineering systems integration. This significantly scales out our global platform to build long-term, high-value partnerships with our clients. By advancing Maximo implementations to function within digital “infinity twins,” Cohesive can help to transform asset-owners’ businesses from an operational perspective while also improving their ESG performance. On behalf of Cohesive’s talent force of now over 700 colleagues everywhere, we warmly embrace the Vetasi team and look forward to the next step in our shared journey.”
Jarosław Łukasiewicz, CEO of Vetasi, who joins Cohesive along with other executive partners James Fair and Trevor Roberts, said, “We are delighted to join Cohesive and contribute to its mission of delivering transformational and sustainable outcomes through the built and natural environment. Becoming part of Cohesive enables us to expand our partnerships with our clients and build further upon Vetasi’s vision of delivering solutions that deliver real value.”
As a world-class digital engineering systems integrator and consultancy, Cohesive partners with infrastructure asset owner-operators and enterprise leaders to design and deliver transformational outcomes in both the built and natural environments, achieving for its clients practical service and financial and social goals. Its portfolio of industry and implementation experts, lifecycle capabilities, and key software proficiencies enables Cohesive to support and improve the most complex infrastructure projects and assets globally.
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 geoprofessional software portfolio, and the iTwin Platform for infrastructure digital twins. Bentley Systems employs more than 4,500 colleagues and generates annual revenues of approximately $1 billion in 186 countries.
www.bentley.com
What is the impact of Bentley Systems' acquisition of Vetasi on BSY stock?
The acquisition of Vetasi is expected to strengthen Cohesive's market position, potentially enhancing the value of BSY stock by expanding its service capabilities and geographic reach.
When was the acquisition of Vetasi by Bentley Systems announced?
The acquisition of Vetasi by Bentley Systems was announced on November 30, 2022.
What are the strategic benefits of acquiring Vetasi for Bentley Systems?
The acquisition will enhance Cohesive's EAM solutions capabilities, add significant expertise, and expand its customer base in Europe, Africa, and Asia Pacific.
How will Vetasi's expertise benefit Cohesive Group?
Vetasi's expertise will enhance Cohesive's capabilities in cloud hosting and EAM solutions, facilitating better service delivery for clients.
