Seequent software is used on large-scale projects globallyChristchurch-based software company Seequent, known for subsea infrastructure mapping among other things, has been snapped up by Nasdaq-listed engineering software company Bentley Systems for US$1.05 billion ($1.45b). The acquisition, subject to New Zealand Overseas Investment Office approval, would see the company continue to operate as a standalone business unit within Bentley. Seequent is a New Zealand success story, having grown from one employee in 2004 to 173 New Zealand staff and a total of 430 globally today. Seequent is 75 per cent owned by US private investor Accel-KKR Capital Partners following a reported $100m equity raising deal in 2018. "We expect Seequent to contribute in excess of US$80m to our ARR [annualised revenue] during this year.

Source: New Zealand Herald March 12, 2021 00:28 UTC