Bentley Systems and Siemens expands strategic partnership
Two companies will invest 100m euros in developing digital solutions
Bentley Systems and Siemens have announced plans to expand their strategic alliance to develop digital engineering solutions and services.
The two companies will increase investment in the collaboration to €100 million, up from the €50 million funding which was first announced.
In November 2016, Bentley and Siemens announced that they would invest in developing joint solutions including cloud services to integrate digital engineering models from both companies.
The expanded deal is also backed by a stock acquisition by Siemens on Bentley secondary shares, which has now extended to give Siemens a stake in Bentley which 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."
He added: "Integrated company-wide data handling and IoT connectivity via MindSphere will enable our mutual customers to benefit from the holistic Digital Twins."
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."