Industry News
Schneider Electric in Talks to Acquire Bentley Systems
Bentley Systems, a software firm, declined to comment on the matter.
Schneider Electric SE, the French energy solutions company, is in talks to acquire a majority stake in Bentley Systems, a transaction estimated at $15.6 billion.
In a statement on April 19, Schneider said it was “holding discussions with Bentley Systems regarding a potential strategic transaction,” and that the talks were in the early stages.
The statement was issued in response to media reports that the company was seeking to take control of Bentley Systems, which designs infrastructure software.
“Schneider Electric confirms that, as part of its continuous exploration of opportunities in furtherance of its One Software strategy, it has been holding discussions with Bentley Systems with regard to a potential strategic transaction,” read the statement.
“Discussions remain at a preliminary stage regarding a potential transaction, and there is no certainty that any transaction will be agreed upon.”
Schneider, based in Rueil-Malmaison, France, reported $38.3 billion in sales in 2023, reflecting a 12.7% year-over-year growth. This increase was primarily driven by advancements in artificial intelligence within large data centres.
Acquiring Bentley or entering into some form of strategic alliance would allow the company greater access to Bentley customers— including major infrastructure owners in the U.S. and numerous government clients worldwide.
RELATED: Oracle Unveils $10bn Plan for Data Centre Expansion
Bentley, however, declined to comment on the talks despite acknowledging Schneider’s public statement in response to recent market speculation.
“Bentley Systems does not publicly comment on market rumours or speculation and does not intend to comment on this matter,” the company said in a statement.
Bentley is renowned for its portfolio of cloud-based design, construction, and operation tools, spanning transportation and water infrastructure, public works, utilities, buildings, mining, and industrial facilities.
The company reported revenue of US$1.23 billion in 2023, marking a 12% increase from the previous fiscal year.
Looking ahead, it anticipates a continued upward trajectory, with revenue forecasted to grow by an average of 12% per annum over the next three years.
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