Bentley Systems completes $700mn acquisition of Power Line Systems
Power Line Systems provides software for the design of overhead electric power transmission lines and structures
Bentley Systems, the infrastructure engineering software company, has announced the completion of its acquisition of Power Line Systems — a leader in software for the design of overhead electric power transmission lines and their structures—from private equity firm TA Associates for approximately $700 million in cash.
In a statement, Bentley Systems said that when announcing its full year 2021 operating results, which is scheduled for March 1, 2022, it would provide its full‑year 2022 financial outlook, reflecting the inclusion of Power Line Systems.
This latest announcement comes on the back of the engineering software giant’s Seequent business unit completing the acquisition of the Denver-based Advanced Resources and Risk Technology (AR2Tech), a developer of geostatistical software applications, in December 2021.
