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Bentley Systems Subsidiary Acquires Ontracks Consulting For Undisclosed Sum

·1 min read
  • Bentley Systems Inc’s (NASDAQ: BSY) digital integrator business subsidiary, The Cohesive Companies, acquired Canadian IBM Maximo implementer Ontracks Consulting.

  • Ontracks specializes in strategic asset management and operational performance improvement for asset-intensive organizations in the energy, utilities, transportation, mining, manufacturing, and government.

  • The financial terms of the transaction were not disclosed.

  • The Cohesive Companies support the growing demand for enterprise asset management (EAM) and asset lifecycle information (ALIM) environments. The acquisition will consolidate its Maximo business.

  • Ontracks offers extensive experience integrating data from IoT sensors, operational technology (OT) systems, and enterprise resource planning (ERP) systems.

  • Ontracks recently launched Maximo Fastrack, a turnkey, cloud-based Maximo solution.

  • Bentley recently acquired 3D geological modeling and visual data software developer Seequent for $1.05 billion.

  • It held cash and cash equivalent of $122 million as of Dec. 31, 2020.

  • Price action: BSY shares traded lower by 0.25% at $44.48 on the last check Tuesday.

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