Bentley Systems announces plans for IPO

0

Bentley Systems, longtime proponents of digital twins and makers of a suite of powerful software tools for design, building, and construction has announced their official intentions for an IPO. In a press release, the company stated that they hope to raise $194 million by offering 10.8 million shares at a price range of $17-19 per share. It plans to list on the Nasdaq under the symbol BSY and is expected to price during the week of September 21, 2020.

Bentley has made some major moves in the past year, including launching a joint venture with Topcon called Digital Construction Works in an attempt to help construction and design firms to go digital from end-to-end in their workflows. At last year’s Year in Infrastructure event, Bentley also announced the acquisition of OrbitGT and Citylabs, who specialized in 3D mobile mapping and traffic modeling, respectively, in an effort to go move into city-scale mapping and smart cities.

It should be interesting to see what this IPO generates for revenue, and what Bentley’s next moves are in the AEC software industry.

Share.

About Author

Carla Lauter

Carla Lauter is the editor of SPAR3D.com and the SPAR 3D Newsletter. Before joining SPAR 3D, Carla spent 10 years on NASA and National Science Foundation funded projects focusing on Earth science and communication. She has worked on web-based outreach and online interactives for NASA Earth Science, including products for satellite missions measuring sea level, salinity and hyperspectral ocean color.

SPAR 3D NEWSLETTER

Subscribe to our weekly enewsletter, delivering news and market information for professionals involved in 3D imaging technology.

You may unsubscribe from our mailing list at any time. Diversified Communications | 121 Free Street, Portland, ME 04101 | +1 207-842-5500

Comments are closed.

© Diversified Communications. All rights reserved.