US Nasdaq-listed company buys Christchurch-based Seequent for US$1.05 billion
11 Mar, 2021 11:59 PM
2 minutes to read
NZ Herald
Christchurch-based Seequent, known for earth modelling software among other things, has been snapped up by Nasdaq-listed engineering software company Bentley Systems for US$1.05 billion ($1.45b).
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The acquisition, subject to New Zealand Overseas Investment Office approval, would see the company continue to operate as a standalone business unit within Bentley.
Seequent is a New Zealand success story, having grown from one employee in 2004 to 173 New Zealand staff and a total of 430 globally today.
Founder and CEO Shaun Maloney is retiring as part of the acquisition, with current chief operating officer Graham Grant becoming the main report to its new parent.
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<p>Bentley Systems announced that it has entered into a definitive agreement with investors led by Accel-KKR to acquire <a href="http://www.seequent.com">Seequent</a>—a leader in software for geological and geophysical modeling, geotechnical stability, and cloud services for geodata management, visibility, and collaboration—for $900 million in cash.</p>
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