EXTON, PA, USA, Feb 1, 2022 – Bentley Systems, Incorporated (Nasdaq: BSY), the infrastructure engineering software company, 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. For more information, visit www.bentley.com.