RTTNews | Nov 16, 2021 10:38PM EST

22:38 Tuesday, November 16, 2021 (RTTNews.com) - Bentley Systems Inc (BSY) said that it agreed to acquire Power Line Systems a leader in software for the design of overhead electric power transmission lines and their structuresfrom private equity firm TA Associates for about $700 million.

The consideration is payable, at BSY's election, in cash or a combination of cash and BSY stock.

Upon closing, Power Line Systems will operate within Bentley's new Grid Integration Group, combining also its SPIDA analysis products and fast-growing-startup OpenTower business, with Power Line Systems' current CEO Otto Lynch reporting to Bentley's Chief Acceleration Officer Santanu Das.

Read the original article on RTTNews ( https://www.rttnews.com/3242898/bentley-systems-to-acquire-power-line-systems-for-about-700-mln.aspx)

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