Simpson Thacher is representing Bentley Systems, Incorporated (NASDAQ: BSY) in connection with its proposed acquisition of Seequent Holdings Limited for approximately $1.05 billion, consisting of $900 million in cash, subject to adjustment, plus 3,141,361 shares of Bentley stock. The acquisition is subject to customary closing conditions and regulatory approvals, including New Zealand Overseas Investment Act consent as well as clearance under the Hart-Scott-Rodino Antitrust Improvements Act. The transaction is expected to close in the second quarter of 2021.
Seequent is based in New Zealand and is a leader in the development of 3D geological modelling and visual data software for understanding subsurface geoscience and engineering design solutions. Seequent’s software is used on large-scale projects globally, including road and rail tunnel construction, groundwater detection and management, geothermal exploration, subsea infrastructure mapping, resource evaluation and subterranean storage of spent nuclear fuel.
Bentley Systems is an infrastructure engineering software company that provides innovative software for the design, construction, and operations of roads, bridges, rail and transit, water and wastewater, public works and utilities, buildings and campuses, and industrial facilities.
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