Bentley Systems, a maker of software for design, construction, and the operation of infrastructure, has announced it will acquire Seequent in a deal worth $1.05 billion. Payment will consist of $900 million in cash with the remainder being Bentley Systems stock.
Seequent provides software for geological and geophysical modeling, geotechnical stability, and cloud services for geodata management, visibility, and collaboration.
These services are especially useful in the mining industry, and Seequent is currently focused on South America and Africa. Bentley is hoping to use its connections in China to foster continued growth.
Bentley says it expects the acquisition to boost its key performance metrics (ARR, annual revenue, and EBITDA) by approximately 10%. It also expects the deal to deliver a boost to Bentely’s organic growth rate.