(RTTNews) - 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 structures—from 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.
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