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About Bentley Systems, Incorporated

Bentley Systems wants to be the premier ride for infrastructure engineers. The company's computer-aided design (CAD) software is used to design and build large-scale infrastructure projects such as airports, transit and utilities systems, manufacturing plants, and buildings. Bentley's software lets architects, engineers, builders, and property owners collaborate over the web to develop and maintain projects. The company also offers content management applications, as well as consulting, integration, and training. It largely serves the architecture, construction, engineering, and utilities industries worldwide. In late 2020, the company announced its initial public offering and has applied to list its shares on the NASDAQ Global Select Market under the symbol "BSY". 

Change in Company Type

In late 2020, Bentley went public and will begin trading on the Nasdaq Global Select Market under the symbol "BSY".

IPO

In late 2020, the company announced the pricing of its initial public offering of $10,750,000 shares of its Class B common stock at a price to the public of $22.00 per share. The shares of Class B common stock to be sold in the offering are being sold by existing stockholders of Bentley. The selling stockholders granted the underwriters in the offering a 30-day option to purchase up to an additional 1,610,991 shares of Class B common stock from the selling stockholders. The company will begin trading on the Nasdaq Global Select Market in the year under the symbol "BSY".

Operations

Bentley offers its products under three basic platforms: MicroStation, (infrastructure modeling, documentation, and visualization), ProjectWise (project delivery), and AssetWise (asset and network performance). Its software enables digital workflows across engineering disciplines, distributed project teams, from offices to the field, and across computing form factors, including desktops, on-premises servers, cloud-native services, mobile devices, and web browsers. 

Geographic Reach

Headquartered in Exton, Pennsylvania, the company generates annual revenues of more than $700 million in over 170 countries across Asia, Europe, the Middle East and Africa. 

Sales and Marketing

The company delivers solutions for the entire lifecycle of the infrastructure asset, tailored to the needs of the various professions — the geospatial professionals, planners, contractors, fabricators, IT managers, operators and maintenance engineers. Each of the company's product focuses on specific capabilities required for inspectors, governments, institutions, utilities, and a broad spectrum of infrastructure roles.

Strategy

Bentley Systems and Microsoft Corp. in October 2020 announced an expansion of a strategic alliance focused on advancing infrastructure for smart city urban planning and smart construction. The alliance will combine Microsoft's Azure IoT Digital Twins and Azure Maps with Bentley Systems' iTwins platform, enabling engineers, architects, constructors and city planners to work within a comprehensive city-scale digital twin, empowering better decision-making, optimizing operational efficiency, reducing costs and improving collaboration.  Microsoft and Bentley Systems will collaborate to develop new smart city solutions. The companies will explore opportunities for digital twins in urban planning and citizen engagement for cities around the world. The collaboration will enable improved decision-making and increased productivity through Microsoft Teams for infrastructure engineers.  

Around the same time, Siemens Energy and Bentley Systems, Inc. have announced a joint solution that delivers intelligent analytics derived from domain experience to reduce operating expenditures associated with oil and gas assets. The new service, known as Asset Performance Management for Oil & Gas, or APM4O&G, incorporates key complementary offerings from both companies to help operators enhance asset performance, eliminate downtime, and reduce maintenance costs.

The APM4O&G solution combines Bentley's advanced asset performance software capabilities (AssetWise) with Siemens Energy's technology and service expertise to empower operators to improve maintenance operations and planning.

Mergers and Acquisitions

Bentley uses acquisitions to expand its product lines and its customer base. Recent acquisitions have focused on foreign markets.

In late 2020, The Cohesive Companies, a digital integrator investment of the Acceleration Fund of Bentley Systems, Incorporated, acquired Professional Construction Strategies Group Ltd. Headquartered in Croydon, UK, PCSG has developed world-leading methodologies, talent, and experience in advisory services to built-environment owners for transformative benefits in going digital, advancing BIM and GIS through infrastructure digital twins.

In early 2020, Bentley acquired GroupBC, a leading UK SaaS software innovator. GroupBC's CDE solutions, BC Projects and BC Enterprise+, have been widely applied in the UK for information management respectively across construction and asset estates. With the acquisition, the company will be able to serve better the engineers, contractors, and owners by bringing together their collective IT (Information management), OT (operational technologies including reality modeling), and ET (engineering models).

In late 2019, Bentley acquired the global mobility simulation (CUBE) and analytics (Streetlytics) software provider Citilabs, and global provider of 3D and mobile mapping software, Orbit Geospatial Technologies (Orbit GT). The newly acquired technologies, in conjunction with Bentley's existing design integration and digital cities offerings, enable engineering-based mobility digital twins.

Also in 2019, Bentley acquired Keynetix, a UK-headquartered provider of cloud-based software for capturing, visualizing, modeling, and sharing geotechnical data. The deal expands Bentley's geotechnical offerings.

Company Background

Bentley Systems was founded in 1984 by the Bentley brothers. - Scott, who went on to found underwater camera manufacturer VideoRay, current officers Keith, Barry, and Raymond. A fifth brother, Greg, joined his siblings at the company in 1991 and became CEO in 2000. 

Bentley Systems, Incorporated

685 Stockton Dr
Exton, PA 19341-1151
Phone: 1 (610) 458-5000

Firm Stats

Employer Type: Privately Owned
CEO: Greg Bentley
CTO: Keith A. Bentley
SVP and COO: Malcolm S. Walter
Employees (This Location): 450
Employees (All Locations): 4,010

Major Office Locations

Exton, PA

Other Locations

Anaheim, CA
Carlsbad, CA
Oakland, CA
San Diego, CA
Waterbury, CT
Sunrise, FL
Covington, LA
Charlotte, NC
Middlefield, OH
Exton, PA
Addison, TX
Austin, TX
Houston, TX
Seattle, WA
Brookfield, WI
Chennai, India
Kolkata, India
Mumbai, India
New Delhi, India
Pune, India
Calgary, Canada
Québec, Canada
Saint Maur Des Fosses, France
Taipei City, Taiwan