Siemens weighs acquisition of Bentley Systems

Siemens already holds a 14 percent stake in Bentley. The businesses entered into a strategic alliance to develop commercial initiatives in 2016 and renewed the pact two years later, saying at the time that €100m ($118m) had been pledged to the venture.

Siemens weighs acquisition of Bentley Systems
Siemens weighs acquisition of Bentley Systems

Siemens weighs acquisition of Bentley Systems

Siemens is weighing a purchase of Bentley Systems. The National quoted a few sources, who want to remain unidentified, saying that Bentley, if purchased, would become a part of Siemens’s digital industries division. No final decisions are made, and a deal could still fail to materialize.

No comments have yet been received from Bentley Systems. Siemens shares rose the maximum amount as 1.6 percent to €117.60 (Dh510.38) in intraday trading on Monday.

Siemens already holds a 14 percent stake in Bentley. The businesses entered into a strategic alliance to develop commercial initiatives in 2016 and renewed the pact two years later, saying at the time that €100m ($118m) had been pledged to the venture.

The purchase would mark the start of Siemens’s push into software under incoming chief executive Roland Busch. He’s scheduled to take over in February from Joe Kaeser, who will leave Siemens a transformed company that bears little resemblance to the one he took over in 2013.