Bentley Systems has completed its acquisition of Power Line Systems, a software company for the design of overhead electric power transmission lines and their structures.
The company was purchased for around $982 million ($US700 million) in cash from private equity firm TA Associates.
Bentley Systems is an infrastructure engineering software company that provides software for the world’s infrastructure. Its solutions are used by professionals and organisation for the design, construction, and operations of roads, bridges, rail, public works, buildings, and campuses.
MicroStation-based applications for modelling 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 4000 people and generates annual revenues of more than $800 million in 172 countries.
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.
Related stories:
- Bentley Systems acquires AR2Tech
- Bentley Systems unveils winners of the Going Digital Awards
- Bentley Systems announces Year in Infrastructure 2021 Founders’ Honourees