Bentley Systems Enters into Agreement to Acquire Power Line Systems, Global Leader in Software for Power Transmission Engineering
To Anchor New Acceleration Initiative for Grid Integration!
Bentley Systems, Incorporated (NASDAQ:BSY), the infrastructure engineering software company, today announced that it has entered into a definitive agreement to acquire 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. The consideration is payable, at BSY's election, in cash or a combination of cash and BSY stock. As an established subscription business with no full-time go-to-market staffing, Power Line Systems generates extraordinary profitability and cashflow, and accordingly, the acquisi
