US company Bentley’s recent acquisition of Christchurch company Seequent signals a global confidence in Christchurch's tech expertise and innovation.
Bentley entered into the USD$1.05 billion agreement on 11 March, acquiring what they called “a world leader in software” who can be credited with “a paradigm shift in understanding the earth’s subsurface”.
“We can be very confident about Seequent’s contribution to our shared future...they have made farsighted decisions to benefit the future at every stage,” said Greg Bentley, Bentley CEO.
Bentley intends to keep Seequent intact and headquartered in Ōtautahi Christchurch. Seequent currently has 430 employees, with offices in 16 locations, and operates in more than 100 countries.
Greg Bentley - Bentley CEO
I can think of no greater compliment than our determination to leave intact Seequent, as a Bentley Company, entrusting its management with greater responsibilities to continue their dynamic momentum,”
“I can think of no greater compliment than our determination to leave intact Seequent, as a Bentley Company, entrusting its management with greater responsibilities to continue their dynamic momentum,” Bentley said.
The agreement is subject to customary regulatory approval.
Shaun Maloney, Seequent CEO, said “by ‘leapfrogging ahead’ with Bentley to align geosciences with infrastructure engineering through deeper digital twins, Seequent underscores our conviction that better understanding of the earth creates a better world for all”.
Maloney plans to retire following the agreement, as was his existing intention, and is confident in Seequent’s future under the leadership of current COO Graham Grant.
“I am confident that the future is in safe hands with like-minded Bentley Systems and our COO Graham Grant, so this presents a timely moment for me to announce my planned retirement. For all, our new larger scope presents a great opportunity for shared advancement,” Maloney said. Seequent won the ChristchurchNZ New Zealand Aerospace Challenge 2019 for their cloud-based, global remote sensing solution for monitoring lake water health.
The Challenge, powered by global aerospace giant Airbus, and delivered by ChristchurchNZ and SpaceBase, sought solutions from across New Zealand to identify, monitor or measure water or soil pollution using satellite data and unmanned aircraft technology.
Boyd Warren, ChristchurchNZ General Manager of Innovation and Business Growth, said the agreement was a “great endorsement” and a show of confidence in the innovation and business acumen present in Canterbury’s tech sector.
Boyd Warren - ChristchurchNZ General Manager of Innovation and Business Growth
Seequent is a world-leading company and an example of how a business can thrive from humble beginnings to global success here in Ōtautahi Christchurch,”
“Seequent is a world-leading company and an example of how a business can thrive from humble beginnings to global success here in Ōtautahi Christchurch,” Warren said.
“With the commitment to remain headquartered here and Bentley’s complementary portfolio, this is a huge boon for the city and our local tech ecosystem. Their continued growth will bring about economic benefit and additional high-value jobs.”