Verified facts grounded in source documentation.
Under Nicholas Cumins’ tenure as COO since January 2022, Bentley Systems’ annual recurring revenue growth and operating margins have improved to the highest levels in the company’s 40-year history.
Bentley Systems’ subsidiary Seequent, The Bentley Subsurface Company, has signed an agreement to acquire Flow State Solutions.
Day 1 of Bentley Infraweek Asia-Pacific on 2021-09-02 will begin with a plenary session on digital transformation in the post-pandemic world featuring speakers from Bentley Systems and Microsoft.
Bentley Systems’ Seequent business unit acquired Imago Inc, a developer of cloud-based software for the capture and management of geoscientific imagery.
Bentley Systems entered into a definitive agreement with investors led by Accel-KKR to acquire Seequent for $900,000,000 in cash, subject to adjustment, plus 3,141,361 BSY Class B shares.
Bentley Systems projected Adjusted EBITDA for the full year of 2020 in the range of $250,000,000 to $265 million, representing growth of 33% to 41%.
Bentley Systems’ Adjusted EBITDA for the quarter ended 2020-09-30 was $73.6 million, compared to $52,800,000 for the same period last year.
Bentley Systems recorded $26,100,000 in expenses associated with its IPO in its consolidated statement of operations for the three and nine months ended 2020-09-30.
Bentley Systems did not receive any proceeds from the sale of shares of common stock by the selling stockholders in the September 2020 IPO.
Bentley Systems projected its effective tax rate for the full year of 2020 to be 23% to 25%, and normalized for unusual IPO-related activity the effective tax rate was expected to be approximately 19% to 21%.
Bentley Systems’ Adjusted EBITDA margin for the quarter ended 2020-09-30 was 36.3%, compared to 28.3% for the same period last year.
Bentley Systems completed its initial public offering of Class B common stock in September 2020 at a price of $22.00 per share.
Selling stockholders in Bentley Systems’ September 2020 IPO sold 12.4 million shares, including 1.6 million shares issued pursuant to the full exercise of the underwriters’ option to purchase additional shares.
Bentley Systems established Bentley iTwin Ventures to invest in technology companies addressing infrastructure digital twin solutions for roadways, railways, waterways, bridges, utilities, industrial facilities, and other infrastructure assets.
Bhupinder Singh retired from Bentley Systems after 26 years.
The IPO will raise Bentley Systems' public profile and improve the company's marketing as a public company.
Bentley Systems launched an initial public offering of 10,750,000 shares of its Class B common stock.