Topic: How To Invest

Spinoffs & Takeovers Hotline – Friday, July 23, 2021

Article Excerpt

BENTLEY SYSTEMS INC., $60.94, symbol BSY on Nasdaq, is a software developer for the construction industry. Its software is used by customers to design, engineer and build highways, bridges and other infrastructure assets. Keith and Barry Bentley, who are brothers, co-founded the company that bears their name in 1984. Another brother, Greg, joined the company in 1991. Greg is chairman, CEO, and president of Bentley, while Keith is chief technology officer and a director. Barry is a director. Bentley first sold shares to the public and began trading on Nasdaq in September 2020. That’s when it sold 10.8 million shares at $22 each to raise $236.5 million. On June 17, 2021, the company completed the $1.05 billion acquisition of Seequent, a New Zealand-based creator of 3D modelling software for the geosciences industry. Bentley’s previous offerings focused on what’s constructed “near surface,” including foundations, drainage facilities, buried utilities, tunnels, and subsea structures. The addition of Seequent now makes it possible to offer software to reach…

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