Bentley Systems Completes Acquisition of Power Line Systems, Global Leader in Software for Power Transmission Engineering
January 31 2022 - 12:42PM
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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version on businesswire.com: https://www.businesswire.com/news/home/20220131005690/en/
Christine Byrne +1 203 805 0432 Christine.Byrne@bentley.com
Follow us on Twitter: @BentleySystems
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