Siemens and Bentley strengthen strategic alliance

Joint investment initiative

27.08.2018, 09:55

Siemens and Bentley strengthen strategic alliance

Bentley Systems and Siemens intend to further strengthen their strategic alliance, expand the existing agreement and thus further develop their cooperation and commercial initiatives.

The funding of their joint innovation investment program will therefore be increased from an initial €50 million to €100 million. In addition, Siemens now holds a stake in Bentley Systems of more than 9 percent due to its continued investment in secondary shares from Bentley's share capital.

"I am delighted that our alliance has got off to such a strong start. Now we are further expanding our collaboration and investing in Bentley's engineering and project management tools, for example with our company-wide collaboration platform Teamcenter, to create a complete 'digital twin' for the design and manufacturing world," says Klaus Helmrich, member of the Siemens Managing Board.

He adds: "A company-wide integrated handling of data and IoT networking via MindSphere will help our customers on both sides to benefit from the advantages of holistic digital twins."

Greg Bentley, CEO of Bentley Systems, added: "Through our joint investments with Siemens, we have driven valuable opportunities for infrastructure digitalization and industrial advancement in nearly every collaboration with the company to date. Now that our new joint products and cloud services are coming to market, further digital collaborations are a top priority for us. We also welcome Siemens' regular purchases of non-voting Bentley Systems shares on the NASDAQ private market and support this to increase our liquidity, which will particularly benefit our colleagues who are retiring."

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