Benzinga | Jul 8, 2021 06:28AM EDT

Bentley Systems' Seequent Acquires Geophysical Software Developer Aarhus GeoSoftware For Undisclosed Sum

* Bentley Systems Inc's (NASDAQ:BSY) Seequent business unit acquired Danish company Aarhus GeoSoftware, a geophysical software developer, for undisclosed financial terms.

* The acquisition extends Seequent's solutions for operational groundwater management and sustainability projects involving exploration, contaminants, and infrastructure resilience.

* The acquisition will add new geophysical data processing capabilities to Seequent workflows to help advance subsurface investigation and modeling, Seequent CEO Graham Grant said.

* AGS software, coupled with Seequent's advanced geologic modeling and analysis software, creates a vital tool in helping understand and manage groundwater and assessing risk in infrastructures such as dams and canals.

* Bentley Systems held $569.5 million in cash and equivalents as of March. 31, 2021.

* Price action: BSY shares closed lower by 0.11% at $65.77 on Wednesday.