Siemens and Bentley Systems consolidate alliance

Siemens has announced that their successful strategic alliance with Bentley Systems, the software development company that concentrates on infrastructure project management, will be further expanded to strengthen their joint business cooperation and investment initiatives. The result of this latest agreement between the two companies means that their initial 50 million Euro investment program will be doubled – taking it to 100 million Euro. In addition, the Siemens stake in the Bentley Systems company has been increased to over 9%, as a result of the continuous investment of Siemens into secondary shares of Bentley’s common stock.

Klaus Helmrich, member of the Managing Board of Siemens AG, declared: “I’m very pleased with how well our alliance started, how strong the relationship is. We are now investing up to the next collaboration level with Bentley. For example we will strengthen their engineering and project management tools using the Siemens enterprise wide collaboration platform ‘Teamcenter’ to create a full ‘Digital Twin’ for the engineering and construction world. Integrated company-wide data handling and IoT connectivity via Siemens ‘MindSphere’ will enable our mutual customers to benefit from the holistic ‘Digital Twins’.”

Greg Bentley, the CEO of Bentley Systems added: “In our joint investment activities with Siemens to date, we have progressed worthwhile opportunities together with virtually every Siemens business forgoing digital’ in infrastructure and industrial advancement. As our new jointly offered products and cloud services now come to market, we are enthusiastically prioritizing further digital co-ventures. We have also welcomed Siemens’ recurring purchases of non-voting Bentley Systems stock on the NASDAQ Private Market, which we facilitate in order to enhance liquidity, primarily for our retiring colleagues.”

Background to Bentley Systems

Bentley Systems is a software development company that supports the professional needs of those responsible for creating, building and managing the world’s infrastructure, including roadways, bridges, airports, skyscrapers, industrial and power plants as well as utility networks.

Founded in 1984, Bentley has more than 3,500 colleagues in over 50 countries, and is on track to surpass an annual revenue run rate of $700 million. Since 2012, Bentley has invested more than $1 billion in research, development, and acquisitions. The collaboration with Siemens commenced in 2016.

Editor’s note: The Bentley website ‘About us‘ page has an excellent video illustrating some of the worldwide applications where the Bentley infrastructure project software has been applied.

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