Schneider Electric Confirms Early Stage Talks to Acquire Bentley Systems
Summary
Schneider Electric SE, the French technology, electrical automation and energy management company, has said it is in talks for a potential deal to purchase a controlling stake in Bentley Systems, the Exton, Pa.-based construction design and project management technology company—a transaction that was valued at $15.6 billion following its 2020 initial public offering. Schneider said in a statement April 19 it has "been holding discussions with Bentley Systems with regards to a potential strategic transaction," and that the talks are still in the preliminary stages. The statement follows media reports that Schneider Electric was in talks to take control of Bentley, which makes software and cloud-based products for infrastructure design and engineering. The vendor has long been known in the industry for its Microstation design suite and its project management tools such as Synchro and ProjectWise. Bentleys portfolio of cloud-based design, construction and operation tools for transportation and water infrastructure as well as public works, utilities, buildings, mining and industrial facilities, has drawn interest from other suitors in the past.