Bentley Systems explores options amid takeover interest, sources say

Bentley Systems

18/04/2024 17:01

By Milana Vinn and Anirban Sen
       April 18 (Reuters) - Bentley Systems  BSY.O , an
engineering software company with a market value of about $15
billion, is exploring options that include a sale after
attracting acquisition interest, according to people familiar
with the matter. 
    Among the companies that have expressed interest in a deal
with Bentley are electrical equipment maker Schneider Electric
 SCHN.PA  and design software firm Cadence Design Systems
 CDNS.O , one of the sources said.
    The Bentley family controls the eponymous company through a
special class of shares. The company has formed a special
committee of its board of directors to explore its options, that
include an outright sale of the company as well as a joint
venture, the sources said.
    The sources requested anonymity because the discussions are
confidential and cautioned that no deal is certain.  
    Bentley Systems, Schneider Electric and Cadence did not
immediately respond to requests for comment.

 (Reporting by Milana Vinn and Anirban Sen in New York
Additional reporting by David Carnevali; Editing by Lisa
Shumaker)
 ((Anirban.Sen@thomsonreuters.com; Twitter: @asenjourno; Reuters
Messaging: Signal/Telegram/Whatsapp - +1-646-705-9409))