CEO Shaun Maloney will retire on deal’s completion.
The 3D software developed by Christchurch company Seequent is considered market leading – and now a listed US engineering firm has acknowledged that leadership, buying the company for more than US$1 billion.
Although the Kiwi firm was at one stage destined for its own IPO, it s now the acquisition of Nasdaq-listed infrastructure engineering software company Bentley Systems, which paid US$900m, subject to adjustment, plus some 3.1 million Bentley Systems shares. The deal is also subject to regulatory approvals, including those required under the New Zealand Overseas Investment Act.
Chief executive of Seequent Shaun Maloney will retire as part of the acquisition, and Seequent will