Bentley Systems of Bentley Systems

The Bentley Systems company is a world supplier of complete software solutions for development of design, construction and operation of the infrastructure facilities intended for architects, engineers, geoinformation technologies specialists, builders and owners of infrastructure. The unlimited mobility of engineering information on a joint of the different industries for lifecycle of infrastructure facilities is available to users of Bentley to performance improvement of projects and assets.

As of June, 2018, the staff of the Bentley company founded in 1984 exceeded 3500 employees who work in regional representative offices in more than 50 countries. Since 2012 the Bentley company invested in research and development and also in acquisition of other companies more than $1 billion.

The company specializes in the field of delivery of complete software solutions for support of infrastructure during all its lifecycle. Bentley develops the applications helping engineers, architects, contractors to authorities, the organizations, technical services and heads of the enterprises to improve performance at design, construction and operation of objects and also to cooperate more effectively at the global level and to improve reliability of infrastructure.

Assets

For 2012 in the company more than 3000 employees from 45 countries work.

The solutions Bentley support a range of the interoperable applications which are followed by service worldwide including MicroStation – the platform for design and modeling of infrastructure, ProjectWise – the system of joint work of engineering project teams, Bentley AssetWise – the platform for transactions with infrastructure assets.

Performance Indicators

The main achievements of the company in 2013:

• 8% growth of revenue according to the GAAP standards (and also 8% growth at permanent currency rate). The general size of revenue was 593 mln. dollars from which 74% fall on subscriptions;
• steady internal growth in BRICS countries, South Korea, Malaysia, Singapore, in the Middle East and in Great Britain. At the same time only 37% of revenue fall to the share of the USA;
• more than 1,000,000 commercial users of applications of Bentley in 165 countries;
• nearly 25% of the got profit are invested in scientific research;
• individual share of staff of the company reached 98% (in 2008 — 58%);
• reduction of net debt for 50% since the beginning of 2013.

2014: Growth of revenue by 7%

In November, 2015 Bentley Systems published some financial results. Growth in sales of the company slowed down, and their volume was lower, than the main competitor has Autodesk.

According to the published Bentley Systems of the reporting, in 2014 the company gained $625 million without exchange rate fluctuations that is 7% more, than the previous year. In 2013 and 2012 revenue increased by 8% — to $593 million and $550 million respectively. The software maker on called net profit.

Growth rates of revenue of Bentley Systems without exchange rate fluctuations from 2010 to 2014.

For comparison, revenue of division of Autodesk of AEC which competes with Bentley Systems in the market of software in the field of architecture, engineering, building constructions and creation of infrastructure reached in 2014 $873 million against $707 million So growth was 19%. Both companies continue to be recovered after recession, at Autodesk, most likely, it turns out better.

According to the CEO of Bentley Systems Greg Bentley, especially strongly sales to the company in 2014 grew in the Middle East, in Southeast Asia, China and India. The most part of revenues of vendor — 44% — fell on Northern and Southern America. In EMEA region (Europe, the Middle East, Africa) the share of sales in total revenue of the company made 37%, in Asia — 19%.

Bentley Systems notes that 95% of stocks of the company belong to family of founders and employees that allows it to spend the earnings more flexibly. In 2014 costs of software maker for research and development made about $150 million that corresponded to about one fourth from revenue. This share indicator continued to grow. Since 2008 the company spent on R&D and acquisitions of other firms more than $1 billion.

As well as Autodesk, Bentley Systems company pays more and more attention to sale of software on a subscription. This model brought to vendor in 2014 about 76% of revenue. By the end of reporting period the number of the large corporate clients of Bentley Systems working according to the scheme Enterprise Licensing Subscription reached 285.

In November, 2015 Bentley Systems submitted the new comprehensive program of a subscription for access to  cloud services and  applications for joint work, to managed services, administration of licenses, professional services, training materials of Bentley Institute LEARNservices and  new services of CONNECT Edition Cloud Services. Thanks to the new program which received the name Bentley Cloud Services Subscription, the companies can subscribe for  any or at once for  all offers  within the planned annual budget.^[1]

Business in Russia

2013: 20% of growth of business in Russia

Revenues of the company in Russia and the CIS in 2013 increased by 20%. And this with the fact that its annual turnover around the world for the same time grew only by 6% and made 593 mln. dollars.

2011: The chief representative Leon Rizzi leaves the company

In February, 2011 TAdviser knew that at once several key staff of the Russian office of Bentley Systems company, including the area manager in Russia and the CIS, the posts for the last several months left.

So, Leon Rizzi who since 2008 headed office of the producer of the engineering systems in Russia and the neighboring countries left the company in January, 2011. Information on it is placed in its profile in LinkedIn social network.

At office Bentley Systems in Moscow TAdviser by phone was told that Leon's post is held now by other employee of "Bentley" - Tuomo Parjanen, the Finn, long time working respectively in the Finnish division of the company.

At office "Bentley" refused further comments, having referred to absence of the employees who are responsible for press relations. Andrey Levchenko who was responsible for marketing of the company in Russia also left the post some time ago. The reasons of its leaving are not known.

In February, 2011 "Bentley" was left by one more key employee - Paweê Brook, he held a position of the partnership director in the company. He only worked half a year. Now Pavel holds a position of the chief representative of SolidWorks in Russia and the CIS.

"As for my leaving, the reason exclusively personal, not connected with a situation in the company in any way", - he told TAdvser.

2010: A rate for partner sales

The Bentley Systems company insists that Russia is for it key the regional market. In the fall of 2010 to Russia for the second time there came the senior vice president and the executive director on transactions of Bentley Systems Malcolm Walter.

Then he said the following in an interview to the CAD/CAM/CAE Observer magazine: "I am happy with the work done by us and progress of business of our company in Russia. Formally our office in Russia functions five years, but real progress in work was made for last two years". (So it is those two years which fell on time under control of Leon Rizzi).

According to Walter, over 60% of the income of Bentley gain outside the USA therefore "importance of skillful regional policy constantly increases". The current list of the priority countries at number one includes Russia, then there is Brazil, they are followed by India. And, according to him if in other markets of Bentley Systems it is ready to adapt to regional features of business only for 10%, then Russia is a special case where the company is ready to renounce 50% of the rules.

One of the main differences of business of Bentley Systems in Russia from other regions of presence is the scheme of product sales. Practically worldwide Bentley performs direct sales, and only 15% of total returns fall to the share of partners. In Russia, on the contrary, the most part of income will be brought by the partner channel (about 60-75%).

Also Walter said that the Russian office asks supports of the main office "in determination of policy of the company for work with partners in Russia".

"We have an idea of what it should be, but there is also a background of the relations with the companies, people. Therefore we try to define priorities now in how partner relations should be constructed. At us progress in this case was already outlined", - he added to an interview, we will remind, written in October, 2010, i.e. 5 years of an entry of the company into the market later.

Walter declared plans of Bentley Systems in Russia, and they are quite aggressive. For the same interval of time doubling of staff of office up to 40 people. And what is even more important – considerable expansion of a partner network in Russia. For the next three years – doubling of income of the Russian office Bentley.

2005: Entry into the market of Russia

In 2005 the company entered the Russian market.

History

2018

Purchase of software developer for modeling of movements of people of Legion

On October 15, 2018 Bentley Systems announced Legion acquisition. The cost of the transaction was decided on to be disclosed. It is supposed what due to this purchase of Bentley Systems will be able to expand the environment of modeling by means of joint digital processes that it was possible to study and check scenarios of the movement of pedestrians. Read more here.

Acquisition of software developer for 4D-modeling and project management of Synchro Software

The company Bentley Systems, Incorporated, the world supplier of complete software solutions for sustainable development of infrastructure, announced on June 27, 2018 acquisition of Synchro Software with head office in London, the player of the software market for 4D-modeling, planning and project management. Read more here.

Purchase of Plaxis and SoilVision companies

In May, 2018 announced Bentley Systems purchase of software developers for geotechnical modeling of Plaxis and SoilVision. Financial components of transactions are not opened. Read more here.

2016

Siemens and Bentley Systems will invest 50 million euros in joint developments

Siemens and Bentley Systems signed the strategic partnership agreement which will help to transfer the industry to digital technologies in November, to increase quality of accomplishment of infrastructure projects and return on assets in other business areas. At the first stage of Siemens and Bentley Systems invest not less than 50 million euros in development of joint technologies. Also it is going to expand service lines of both companies for users.

Using cloud computing of new services an integrated environment of data will be created. It will allow to pull together practicians of the companies in use of engineering digital models. In addition, Siemens will acquire secondary shares of Bentley for the amount of 70 million euros within the program existing prior to public sales of shares of Bentley Systems.

Siemens and Bentley Systems are familiar not the first year with technologies of each other. For example, Siemens uses solutions of Bentley on the Digital Technologies and Industrial automation directions. By Bentley software for modeling of reality it was integrated into the software solution Siemens Process Simulate. It is technology of laser scanning and clouds of points which allows to fix the existing conditions in industrial zones. The Turnkey Manufacturing Systems (TMS) company, equipment supplier for production of machines, successfully applied the innovation opportunities of clouds of points for creation of "the digital double" of the production line to reduce time and costs.

Investment initiatives will affect practically all divisions of Siemens. In turn, Bentley will get know-how, implementing in Siemens the applications for design, analytical and construction modeling and also work planning of the enterprises. As a result, complex and available digital engineering models, such as "digital double" which can be browsed via the interface of virtual reality will allow to reach high operational rates, will provide a convenient information access and will allow to increase reliability of assets. This work will integrate engineering models in a 3D context of physical reality and the corresponding function engineering 2D models in solutions of Siemens.

Siemens and Bentley Systems will cooperate in the field of power management, electricity generation, construction technologies and mobility of information. Both companies will be able to use new methods in the industries for the offer of the innovation services in the markets. So, the Bentley applications for 3D modeling and structural analysis of industrial and infrastructure facilities supplement solutions and experience of Siemens in the field of electrification and automation. Clients of both companies which will be able to increase profitability and efficiency of the projects and assets will benefit from it. There will be an opportunity to model not only work of the enterprise, but also the procedure of putting into operation. Joint developments of Siemens and Bentley Systems will support open formats of data and functional compatibility with other products.

2015

Purchase of software supplier of Amulet of C3global company

On January 27, 2015 the Bentley Systems Incorporated company announced purchase of C3global company. This company with the headquarters in Great Britain – software supplier of Amulet for the operational analytics working at Internet technologies. The Bentley AssetWise platform is intended for configuration management of projects, monitoring of the assets given about operating condition, engineering control, service and check of compliance of infrastructure assets to relevant requirements. Now AssetWise locates additional analytic functions as with the advent of software of Amulet of an ability to manage efficiency of the main resources extend to modeling of performance of assets. AssetWise Amulet allows to use in a unique way mechanisms predictive and ordering analysts who easily adapt to proportions of an industrial scale. So, becomes possible to use operational data for increase in operational efficiency.

Gartner considers C3global company by one of initiators of the conversion of mechanisms of industrial analytics which brought benefit to digital business (as it is described in the report of Gartner "The Industrial Analytics Makes a Revolution of Big Data in Digital Business" [G00264728] published on August 19, 2014). Many owners-operators of infrastructure, including, the companies on water supply, the oil, gas and energy companies take advantages of use of mechanisms of operational analytics of Amulet. Babcock, BP, Chevron, Danfoss, Emerson, MWH, National Grid, South Australian Water and Total are among the organizations users.

"Improvement of mechanisms of analytics helps to destroy barriers between operational technologies and information technologies that helps to make more effective decisions. Based on our researches use of innovative analytical mechanisms reduces costs, increases efficiency and increases performance. Acquisition of C3global by Bentley Systems company – the most important indicator of progress of an industrial scale. Now the organizations will have an opportunity to optimize performance of assets and to reach business objectives".

The CEO of Bentley Systems Greg Bentley said:

"On behalf of all our colleagues I welcome the C3global command joining Bentley company in its ranks, the cofounder and director of the company Dr. Neil Rothwell, the cofounder and the director Pete Kelly and the CEO David Smith. Acquisition of Amulet will help us to reach bigger in the field of information modeling. We will be beyond project modeling, construction modeling and modeling of reality, and we will work on performance improvement of infrastructure assets. Our product AssetWise APM already allows us to provide as complete solutions for ensuring service for reliability augmentation, and the solution for the engineering control based on risks assessment. Adaptation of the checked mechanisms of operational analytics of the industrial Amulet level to our portfolio of the solutions for reverse engineering leading in the market allows to extend effect of optimization of engineering developments to modeling of performance of assets for adoption of operational solutions. Now we can base these solutions not only on specifications, but also on the corresponding ecological and economic context".

David Smith said:

"All of us in C3global are glad to cooperate closely with our new colleagues from Bentley company. Together we will improve mechanisms of the analysis of operational data that will allow us to make more reasoned decisions. It will lead to performance improvement of assets and will provide growth of performance indicators of owners-operators. Merge of data bulks from Internet of Things with hybrid calculation and process of creation of the improved engineering models has no analogs. Therefore for representation of modeling of indicators of work of assets in the industrial environment consolidation of solutions Amulet with the products Bentley was absolutely necessary. Besides, complete software solutions of Bentley company for sustainable development of infrastructure will give new and interesting opportunities for wider use of potential of operational analytics of software of AssetWise Amulet".

AssetWise Amulet can be configured easily for creation of the difficult applications adapted to requirements of operation of infrastructure; at the same time there is no need to know a programming language. Software liquidates a gap between information technologies (IT) and operational technologies (OT). It will help to make advanced analytical mechanisms an integral part of all aspects of business process. The interactive, easily configured operational AssetWise Amulet panels give owners-operators information necessary for adoption of the weighed solutions, allow to predict their effects and to manage them.

By software of AssetWise Amulet it is developed for the purpose of integration and the analysis of the data bulks collected from external applications and systems. SQL databases or Oracle, corporate information warehouses, industrial archives of historical data and a control system and also a management system for working orders can be data sources. Data can be structured or unstructured and include information on systems, photos, video, log-books, files Microsoft Excel, cases of failures, the scanned notes, events and many other things.

When data of the IT and OT systems are collected and entered into the system, the program applies business rules, models and information of users to obtaining the detailed overview of operational indicators which understanding is necessary for acceptance of reasoned decisions. In addition to integration with SAP EAM, IBM Maximo and Oracle eAM which is guaranteed by AssetWise software of Amulet will help to make the correct decisions in due time. It will help to reduce operational risks and will increase operational efficiency.

Consulting services of C3global company in the course of the conclusion of the transaction were rendered by Technology Holdings company.

Request for the IPO

In July, 2015 Bentley Systems officially announced submission of documents in the U.S. Securities and Exchange Commission on share placing at the exchange. This second attempt of the company to become public.

As it appears from the message of Bentley Systems, the company directed the confidential application for carrying out public primary placement of ordinary shares of a class B to SEC. Non-public requests for the IPO, according to the amendments made in 2014 in the American legislation, can give only those companies whose annual turnover does not exceed $1 billion.

Bentley Systems sent to the American financial regulator documents for share placing at the exchange

Having sent the statement to the finance regulator, Bentley Systems only began formal process of preparation for an entry into the exchange. At the same time the company did not specify the platform where is going to sell the securities, the expected size of the raised funds. IPO terms are also not called. They will become known after SEC checks the statement of the producer.^[2]

In 2002 Bentley Systems for the first time submitted to SEC the handout of additional share issue which the company was going to sell at the exchange during primary public placement. Then it was talked of the amount of $172.5 million. The same year the request was withdrawn because of negative market reaction on the planned placement and desires of vendor to focus on business management which at that time showed stable growth and was profitable.

2014: Organization of AssetWise academy

On November 26, 2014 Bentley Systems and Highways Agency company announced plans of organization of AssetWise academy.

The software of AssetWise Bentley is already implemented and used as the complex information management system by resources (IAM IS) Highways Agency. Now Bentley and Highways Agency announce plans for creation of virtual environment for implementation and distribution of the best practices in resource management with assistance of information modeling through AssetWise academy.

2012: Growth of revenue by 5%

In 2012 the company achieved the following results:

• revenue grew by 5%, having made record 550 million dollars (according to the GAAP standards); at permanent currency rate growth according to the GAAP standards was 8%, and internal growth — 6%;
• revenue share from subscriptions reached the record value of 74%;
• applications of the company are used by more than 1 million users in 165 countries; taking into account users of Passports and iWare this indicator is nearly 2 million;
• the amount of capital investments in researches, development and acquisitions reached the record value of 200 million US dollars, and the general amount of investments since 2005 was more than 1 billion dollars.

Commenting on the annual report for 2012, the president of the company Greg Bentley noted:

"This year our report contains not only economic indicators, in it the revolutionary innovations and initiatives of Bentley supporting the purpose of our program for 2013 — global management of communications are also described".

"It is very important for us that in 2012 we continued to develop one of the most important activities of the company — expansion of opportunities of users for the solution of their tasks. It is pleasant that indicators of demand of Bentley Systems at the international level grow every year" — Malkolm Walter, the chief executive of the company summed up.

2008: No. 2 in the world market of solutions for work with geospatial data

About 90% of the leading 500 firms designers (according to the Engineering News-Record edition) are clients of Bentley company, and within the research of Daratech company conducted in 2008, the Bentley company is called the world's second supplier of software solutions for work with geospatial data.

1984: Foundation of the company

Bentley appeared as the private family company. In 1984 it was founded by Keith Bentley whom four of his brothers — Barry, Scott, Ray and Greg soon joined.

In the 1985th Betley released the first product MicroStation.

To the middle of the 1990th became the serious player in the market of a CAD for construction design and one of main competitors of Autodesk company.

Notes