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PE firm Accel-KKR to exit New Zealand tech firm Seequent in $1.05b deal


PE firm Accel-KKR to exit New Zealand tech firm Seequent in $1.05b deal
Photo: REUTERS/Beawiharta
March 16, 2021
Technology-focused private equity firm Accel-KKR has agreed to exit New Zealand geological and geophysical modeling software developer Seequent in a $1.05 billion deal with Nasdaq-listed infrastructure engineering software maker Bentley Systems Inc.
In an announcement on its website, Accel-KKR said the deal involves $900 million in cash and 3.1 million Class B shares of Bentley, subject to customary conditions and regulatory approvals.
The deal is expected to close in the second quarter and will add about 10% to Bentley’s annualised recurring revenue and earnings before interest, taxes, depreciation, and amortization (Ebitda), following the close. ....

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Bentley Systems enters into $1.05 billion agreement to acquire 3D modeling softwareBentley Systems enters into $1.05 billion agreement to acquire 3D modeling softwareBentley Systems enters into $1.05 billion agreement to acquire 3D modeling software