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New Deal


Announced

Bentley Systems to acquire Citilabs and Orbit Geospatial Technologies.

Financials

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Transaction Value-
Consideration TypeCash
Capital Owned-
Capital Bid For100%
EV/Sales-
EV/EBITDA-
Share Price Premium-
One Off Charge-

Tags

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software development

Acquisition

Pending

United States

Majority

Belgium

Software

Single Bidder

Private

Friendly

Synopsis

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Bentley Systems, a provider of comprehensive software and digital twin cloud services, agreed to acquire Citilabs and Orbit Geospatial Technologies, two software development companies. Financial terms were not disclosed. "Mobility is a priority opportunity for city digital twins, because too often existing planning and simulation efforts are disconnected from the infrastructure's engineering reality. As the roadway design software leaders, we're very enthusiastic to be the first to enable engineering-founded mobility digital twins. With these acquisitions, we can now bring together traffic simulations, by way of the respected and versatile CUBE software—led by traffic engineer Michael Clarke to have now become a market leader—with automated mobile mapping workflows for reality modeling of roadways, as envisioned and realized by Peter Bonne, and his family, in leading the team behind Orbit GT. This will serve communities and regions in designing, testing, and optimizing the resilience of their mobility infrastructure," Robert Mankowski, vice president, digital cities, for Bentley Systems.

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