The French industrial giant Schneider Electric SE (OTC:SBGSY) (OTC:SBGSF) has confirmed holding discussions for a potential acquisition of Bentley Systems ( BSY ) Inc , a company known for its engineering software solutions. 

As per the Schneider Electric statement, discussions regarding a potential transaction remain at a preliminary stage, emphasizing the lack of certainty regarding the outcome of these talks.

Bentley Systems ( BSY ) also acknowledged the public statement made today by Schneider Electric in response to recent market speculation.

Earlier, The Wall Street Journal reported that Schneider Electric and Bentley Systems ( BSY ) are considering merging Schneider’s software business with Bentley, potentially resulting in a deal exceeding $15 billion. 

Despite the potential merger, Bentley is expected to remain a publicly traded entity, albeit significantly larger than before.

Bentley Systems ( BSY ), a family-controlled company co-founded by brothers Keith and Barry Bentley in 1984, specializes in providing software for structural and civil engineers involved in infrastructure projects.

Their software is utilized across various sectors, including transportation, water treatment, and construction.

With an annual revenue surpassing $1 billion, Bentley Systems ( BSY ) went public in 2020. The recent leadership transition saw Chief Executive Greg Bentley assuming the role of executive chair of the board of directors, with Nicholas Cumins set to become the new chief executive effective July 1.

According to the report, Schneider Electric, valued at approximately $127 billion, has a history of strategic acquisitions to bolster its industrial software portfolio, aiming to compete with industry giants like Siemens AG (OTC:SIEGY) and Rockwell Automation Inc ( ROK ) .

The potential acquisition of Bentley Systems ( BSY ) follows Schneider’s earlier move in 2017 when it acquired the British engineering-software provider Aveva Group.

Price Action: BSY, which closed higher by 3.89% at $52.06 on Thursday, is trading lower by 0.12% at $52 premarket Friday.

Disclaimer: This content was partially produced with the help of AI tools and was reviewed and published by Benzinga editors.