Siemens and Bentley Systems expand their strategic alliance
Joint investment initiative extended by an additional EUR 50mn, totalling EUR 100mn
In the companies’ latest Alliance Board meeting, Bentley Systems and Siemens decided to further strengthen their strategic alliance which started in 2016. The two companies have decided to extend their existing agreement, to further develop their joint business cooperation and commercial initiatives. Therefore, the joint innovation investment program will be increased from the initial EUR 50 million funding to EUR 100 million. In addition, as a result of the continuous investment of Siemens into secondary shares of Bentley’s common stock the Siemens stake in Bentley Systems now exceeds 9%.
A full digital twin for the engineering and construction world
“I’m very pleased with how strong our alliance started. Now we are investing in the next collaboration level with Bentley, where for instance we will strengthen their engineering and project management tools with Siemens enterprise wide collaboration platform Teamcenter to create a full Digital Twin for the engineering and construction world,” Klaus Helmrich, member of the Managing Board of Siemens AG, said. “Integrated company-wide data handling and IoT connectivity via MindSphere will enable our mutual customers to benefit from the holistic Digital Twins,” he added.
“In our joint investment activities with Siemens to date, we have progressed worthwhile opportunities together with virtually every Siemens business for ‘going 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,” Greg Bentley, Bentley Systems CEO, mentioned.
About Bentley Systems
Bentley Systems is a global leader in providing engineers, architects, geospatial professionals, constructors, and owner-operators with comprehensive software solutions for advancing the design, construction, and operations of infrastructure. Bentley users leverage information mobility across disciplines and throughout the infrastructure lifecycle to deliver better-performing projects and assets. Bentley solutions encompass MicroStation applications for information modelling, ProjectWise collaboration services to deliver integrated projects, and AssetWise operations services to achieve intelligent infrastructure – complemented by comprehensive managed services offered through customized Success Plans.
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 USD 700 million. Since 2012, Bentley has invested more than USD 1 billion in research, development, and acquisitions.
