Bentley Systems reaches agreement to acquire Seequent, a world leader in 3D modelling software for geosciences
To Advance Environmental Resilience by “Deepening” Infrastructure Digital Twins!
BofA Securities is serving as financial advisor, and Simpson Thacher & Bartlett LLP and Bell Gully are acting as legal counsel, to Bentley Systems. Goldman Sachs is serving as financial advisor and DLA Piper is acting as legal counsel to Seequent.
Seequent is a world leader in the development of 3D geological modelling and visual data software for understanding subsurface geoscience and engineering design solutions.
Our solutions enable people to analyze complex data, manage risk and ultimately make better decisions about earth, environment, and energy challenges.
Seequent software is used on large-scale projects globally, including road and rail tunnel construction, groundwater detection and management, geothermal exploration, subsea infrastructure mapping, resource evaluation and subterranean storage of spent nuclear fuel.
Seequent’s global footprint includes its Christchurch-based HQ and R&D center, and a network of offices across Asia/Pacific, Africa, South America, North America and Europe servicing blue chip companies and customers with leading subsurface solutions in over 100 countries.
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 annualized revenues of more than $800 million in 172 countries. www.bentley.com
This press release contains forward-looking statements that involve risks and uncertainties, including statements regarding: the planned acquisition of Seequent and the timing thereof, the impact of the acquisition on Bentley’s financial condition and results of operations and the products, services and business relationships of each of Bentley and Seequent.
Any statements made in this press release that are not statements of historical fact, including statements about our beliefs and expectations, are forward-looking statements and should be evaluated as such. Forward-looking statements are based on Bentley Systems management’s beliefs, as well as assumptions made by, and information currently available to, them. Because such statements are based on expectations as to future events and are not statements of fact, actual results may differ materially from those projected. Factors that could cause actual results to differ materially include the following: Bentley’s ability to successfully integrate or operate Seequent’s business; any costs or delays attributable to obtaining required regulatory approvals for the acquisition; costs related to the acquisition; adverse changes in the capital markets environment and Bentley’s ability to access additional financing on terms acceptable to it or at all; changes in Seequent’s customer base or geographic footprint; failure to retain personnel necessary for the operation or integration of Seequent’s business; changes in the industries in which Seequent’s customers operate; the competitive environment in which both Bentley and Seequent operate and competitive responses to the acquisition; Bentley and Seequent’s ability to innovate, develop new products or modify existing products; general economic, market and business conditions; unanticipated impact of accounting for acquisitions; and the ability to satisfy the conditions to the completion of the acquisition on the anticipated schedule, or at all.
Further information on factors which may cause actual results to differ materially from current expectations include, but are not limited, those described under the heading “Risk Factors” in the Company’s Annual Report on Form 10‑K for the year ended December 31, 2020, and the Company’s subsequent filings with the SEC.