Bentley Systems to acquire Power Line Systems for ~$700M in cash/stock

BENTLEY SYSTEMS INC

Agreement to acquire Power Line Systems for approximately $700 million, subject to adjustments.
Consideration payable in cash or combination of cash and up to 50% in Bentley class B shares.
Stock portion, if any, priced at weighted-average price at closing; issuance exempt from registration under Securities Act.
Transaction expected to close pending conditions; no specific closing date provided.
Acquisition expands Bentley's portfolio with Power Line Systems' engineering software capabilities.

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