Bentley and Siemens extend corporate alliance

1134 Siemens and 4019 Bentley Systems are strengthening their strategic alliance and joint investment initiatives. This arrangement commenced in 2016 and is to be further expanded. The joint investment initiative between the two companies has been extended by an additional €50 million so that it now totals €100 million.

In addition, as a result of the continuous investment of Siemens into secondary shares of Bentley’s common stock the Siemens stake in Bentley Systems now exceeds 9%. Klaus Helmrich, member of the managing board of Siemens AG, said: “I’m very pleased with how strong our alliance started. Now we are investing in the next collaboration level with Bentley, where for instance we will strengthen their engineering and project management tools with Siemens enterprise wide collaboration platform Teamcenter to create a full Digital Twin for the engineering and construction world.”

Greg Bentley, Bentley Systems CEO, said: “In our joint investment activities with Siemens to date, we have progressed worthwhile opportunities together with virtually every Siemens business for ‘going digital’ in infrastructure and industrial advancement. As our new jointly offered products and cloud services now come to market, we are enthusiastically prioritizing further digital co-ventures. We have also welcomed Siemens’ recurring purchases of non-voting Bentley Systems stock on the NASDAQ Private Market, which we facilitate in order to enhance liquidity, primarily for our retiring colleagues.”