Bentley Systems Enters into ~ $1.05 Billion Agreement to Acquire Seequent

Bentley Systems, the infrastructure engineering software company, announced that it has entered into a definitive agreement with investors led by Accel-KKR to acquire Seequent—a provider of software for geological and geophysical modeling, geotechnical stability, and cloud services for geodata management, visibility, and collaboration—for $900 million in cash, subject to adjustment, plus 3,141,361 BSY Class B shares. The acquisition of Seequent is expected to initially add approximately 10% to each of Bentley Systems’ key financial metrics (ARR, annual revenue, and EBITDA) and is expected to be measurably accretive to Bentley’s organic growth rate. Most significantly, the combination will deepen the potential of infrastructure digital twins to help understand and mitigate environmental risks, advancing resilience and sustainability. www.bentley.com