Bentley Systems entered a definitive agreement with investors to acquire geology software maker Seequent for $900 million and three million shares of stock. Upon closing, Seequent will operate as a stand-alone Bentley subsidiary with a new CEO.
Seequent employs 430 in 16 locations and has customers in more than 100 countries. Bentley’s footprint in China will accelerate Seequent’s expansion in new markets, Bentley said.
Seequent said customers should expect “business as usual” with “many product and commercial synergies eventually forthcoming.”
The transaction is calendared to close in Q2 and is subject to customary closing conditions and regulatory approvals.