Siemens and Bentley Systems strengthen strategic alliance
The two companies will invest over $53m in developing joint solutions for infrastructure and industry.
Global technology firm Siemens has announced the signing of a strategic alliance agreement with Bentely Systems, a software provider for infrastructure operations.
As per the agreement the two firms will work together to expand their respective offerings for infrastructure and industry. To this end, both companies are investing over $53m across a number of technological area, which includes the development of new cloud services for a connected data environment.
Furthermore, Siemens will acquire roughly $74m worth of secondary shares of Bentley's common stock, part of a company program that will continue until Bentley Systems' stock is publicly traded.
Klaus Helmrich, member of the Managing Board of Siemens AG, said, "This move further extends our industry software ecosystem from 2D to 3D software solutions, taking the simulation portfolio in our Digital Enterprise offering to a new dimension.
"We're rigorously executing our ‘digital twin' vision from virtual planning to the real product to the benefit of our customers who themselves are driving digitalisation across their value chains. Bentley Systems' independence, track record in interoperability and leadership in engineering- and design-software make them our ideal partner for this undertaking."
The new investment initiatives will see increased integration between Siemens' solutions and Bentley's various modelling applications. This includes design, analytical, construction and asset performance modelling.
Greg Bentley, CEO, Bentley Systems said, "Only with Siemens could we so purposefully advance beyond merely linking the ‘Industrial Internet of Things' to ultimately leverage digital engineering models for visual operations and connected infrastructure asset performance. Given our long history of sharing complementary technologies, we are very excited to now contribute so broadly to Siemens' industrial digitalisation leadership.