Bentley Systems' Seequent Acquires Geophysical Software Developer Aarhus GeoSoftware For Undisclosed Sum

Bentley Systems Inc's BSY Seequent business unit acquired Danish company Aarhus GeoSoftware, a geophysical software developer, for undisclosed financial terms.
The acquisition extends Seequent's solutions for operational groundwater management and sustainability projects involving exploration, contaminants, and infrastructure resilience.
The acquisition will add new geophysical data processing capabilities to Seequent workflows to help advance subsurface investigation and modeling, Seequent CEO Graham Grant said.
AGS software, coupled with Seequent's advanced geologic modeling and analysis software, creates a vital tool in helping understand and manage groundwater and assessing risk in infrastructures such as dams and canals.
Bentley Systems held $569.5 million in cash and equivalents as of March. 31, 2021.
Price action: BSY shares closed lower by 0.11% at $65.77 on Wednesday.