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Bentley Systems, Incorporated (symbol: BSY) is a global leader in providing comprehensive software solutions designed to support architects, engineers, geospatial professionals, constructors, and owner-operators in the design, construction, and operations of infrastructure. The company's offerings enable users to leverage information mobility across various disciplines and throughout the entire infrastructure lifecycle, ensuring better-performing projects and asset management.
Bentley's key products include MicroStation applications for information modeling, ProjectWise collaboration services for integrated project delivery, and AssetWise operations services to achieve intelligent infrastructure management. These solutions are complemented by Bentley's worldwide professional services and comprehensive managed services, ensuring robust support and service for users globally.
Bentley Systems is renowned for its strong commitment to its user community, delivering not just high-quality and integrated software solutions, but also pairing these products with exceptional service and support. The company offers a broad range of products via the cloud, desktop, and hybrid environments, catering to specific needs such as bridge and rail design.
Despite being relatively smaller than some of its peers, like Autodesk, Bentley Systems excels in its core specialty areas and has established a strong global presence. As of fiscal 2022, approximately 58% of the company's revenue was derived from outside the U.S., with significant contributions from regions such as EMEA (28%) and APAC (18%). The public works and utilities sector stands out as Bentley's largest end market, accounting for about two-thirds of the company's revenue.
With its focus on innovation and user-centric solutions, Bentley Systems continues to advance the infrastructure design and management industry, ensuring that its users can achieve unparalleled efficiency and performance in their projects.
The American Water Works Association estimates that a $1 trillion investment is needed for the U.S. drinking water system. A new report by Dodge Data & Analytics and Bentley Systems highlights the digital transformation status of U.S. water utilities. While 87% gather data digitally, 50% believe they collect less than half of the available data. Challenges include data isolation, lack of visibility among stakeholders, and staff skill gaps. Despite these hurdles, nearly three-quarters are pursuing digital transformation, indicating a commitment to enhancing operational efficiencies.
Bentley Systems (Nasdaq: BSY) has announced a definitive agreement to acquire Seequent for $900 million in cash and 3,141,361 BSY Class B shares. This acquisition is projected to enhance Bentley's key financial metrics by approximately 10% and bolster organic growth. Seequent specializes in geological modeling and cloud services, which will complement Bentley's infrastructure software offerings. The integration aims to deepen infrastructure digital twins, addressing environmental risks. The transaction is subject to regulatory approvals and is expected to close in Q2.
Bentley Systems (Nasdaq: BSY) reported a strong fourth quarter and full-year 2020, with total revenues of $219.6 million, up 8.2% year-over-year, and full-year revenues of $801.5 million, up 8.8%. Subscriptions revenues also grew, reaching $178.3 million in Q4, and $679.3 million for the year. GAAP net income rose to $51.9 million in Q4, and $126.5 million for the year. The company anticipates 2021 revenues between $895 million and $920 million, reflecting a growth of 11.7% to 14.8%. Bentley's operating margin and recurring revenue metrics indicate a positive long-term outlook.
Bentley Systems (Nasdaq: BSY) declared a quarterly cash dividend of $0.03 per share for Q1 2021. This dividend will be payable on March 24, 2021 to stockholders of record as of March 10, 2021. Bentley continues to demonstrate its commitment to returning value to its shareholders while focusing on its core mission of advancing infrastructure engineering. Operating with over 4,000 employees and generating annual revenues of more than $800 million, Bentley’s robust software solutions cater to various industries.
Bentley Systems (Nasdaq: BSY), a leader in infrastructure engineering software, announces that CEO Greg Bentley will present virtually at the Berenberg Design Software Conference on March 11, 2021, at 11:00 a.m. Eastern time. Bentley Systems offers innovative software solutions that support the design, construction, and operation of infrastructure projects, generating over $800 million in annual revenue and employing more than 4,000 professionals globally. Their platform includes MicroStation, ProjectWise, AssetWise, and iTwin for digital twins.
Bentley Systems, Inc. (Nasdaq: BSY) announced the pricing of $600 million of convertible senior notes due 2026. This offering is an increase from the previously proposed $500 million. The notes will bear an interest rate of 0.125% per annum, maturing on January 15, 2026, and are convertible into shares at a rate of 15.5925 shares per $1,000 principal. Bentley expects to raise net proceeds of approximately $584.4 million, aimed at repaying existing debt, funding capped call transactions, and general corporate purposes, including potential acquisitions.
Bentley Systems (Nasdaq: BSY) has announced its intention to offer $500 million in convertible senior notes due 2026 in a private offering under Rule 144A. The company may also grant an option for purchasers to buy an additional $75 million in notes. The notes will be senior unsecured obligations, convertible into cash, shares, or a mix. Proceeds will be used for capped call transactions, repaying debt, and general corporate purposes, including potential acquisitions. Market conditions may affect the offering's completion.
Bentley Systems (Nasdaq: BSY) plans to present its fourth quarter and full-year 2020 operating results on March 2, 2021, prior to market opening. The Company will outline 2021 revenue guidance, Annual Recurring Revenue (ARR) growth, and Adjusted EBITDA during the presentation. A live Zoom Webinar will start at 8:30 a.m. Eastern Time, accessible via a direct registration link or through the Investor Relations website. Bentley Systems specializes in infrastructure engineering software, generating over $800 million in annual revenue and employing over 4,000 people globally.
The Cohesive Companies, a unit of Bentley Systems (Nasdaq: BSY), has acquired SRO Solutions to enhance its marine and industrial infrastructure capabilities. Founded in 2004, SRO specializes in IBM Maximo solutions, providing services globally to manage assets efficiently. The acquisition aims to integrate SRO's expertise in low bandwidth environments and Maximo solutions to support digital transformation for owner-operators and improve asset management. This strategic move is expected to drive operational value and expand Cohesive's service offerings in maritime and industrial sectors.
Bentley Systems (Nasdaq: BSY) has announced a dividend of $0.03 per share for Q4 2020, payable on December 22, 2020, to stockholders of record as of December 7, 2020. This dividend signifies the company's commitment to returning value to shareholders amidst its robust annual revenue exceeding $700 million. Bentley Systems, a leader in infrastructure engineering software, operates globally with over 4,000 employees, providing innovative solutions for various infrastructure projects.
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