SIEMENS AND BENTLEY SYSTEMS ADVANCE STRATEGIC ALLIANCE INCLUDING JOINT INVESTMENT INITIATIVES

To realize new growth opportunities in industry and infrastructure through integration of complementary digital engineering models
 
EXTON, Pa., Nov 10 (Bernama-BUSINESS WIRE) -- Siemens and Bentley Systems announced today that they have formalized a strategic alliance agreement to drive new business value by accelerating digitalization to advance infrastructure project delivery and asset performance in complementary business areas. Siemens and Bentley Systems will initially invest at least Euro 50 million in developing joint solutions to enlarge their respective offerings for infrastructure and industry to the benefit of the end-customers. This work will uniquely leverage new cloud services for a connected data environment to converge respective digital engineering models from both companies. In addition to those elements of the agreement, approximately Euro 70 million of secondary shares of Bentley’s common stock have been acquired by Siemens, under a company program that will continue until such time as Bentley Systems’ stock is publicly traded.

http://mrem.bernama.com/viewsm.php?idm=27910