Acquisition of SPIDA Software
Bentley Systems, Incorporated (Nasdaq: BSY), the infrastructure engineering software company, announced today the acquisition of SPIDA Software, developers of specialized software for the design, analysis and management of utility pole systems. Founded in 2007 in Columbus, Ohio, SPIDA provides modeling, simulation and data management software solutions for electrical and communications companies and their engineering service providers in the US and Canada. The integration of SPIDA within Bentley's OpenUtilities engineering software and the network's digital twin cloud services will help address the challenges of transitioning to new renewable energy sources, including electric vehicle charging, joint use of poles utilities to support 5G expansion of broadband networks and modernization, and hardening of the power grid to maintain reliability and resilience.
Grid digital twins can provide utilities with immersive and precisely engineered geospatial representations of their transmission and distribution assets, combining smart grids and structural analysis with 3D and 4D physical reality as it operates. Bentley's OpenUtilities digital network twin solutions enable power operators and producers to assess the offsets and opportunities of the network, which now span traditional, renewable and energy storage sources. As they provide services to meet demand. Digital twins promote asset health management by converging IT, OT, and ET (engineering modeling and simulations) to leverage IoT infrastructure data sources and predictive analytics to improve security, performance, and reliability. reliability. With the addition of SPIDA, the reach of the network's digital twins can now be extended to utility pole structures and networks, providing the environmentally vulnerable “last mile” of critical infrastructure for vital energy and communications.
Leading electrical utilities, including Ameren, EPCOR, Nashville Electric Service (NES), and Southern California Edison (SCE), design the efficiency and resilience of their overhead systems using SPIDA software. SPIDA's utility pole solutions include SPIDAcalc to capture, model and optimize overhead transmission and distribution assets for structural loads. SPIDAsilk to analyze cable bending and tension design for physical and environmental properties for accurate conductor installation and cable tension; and SPIDAstudio, a cloud-based platform that centrally tracks and manages the state of assets and the physical state of air systems.
As the rapid expansion of renewable energy sources continues and there is an increased demand for the use of electric vehicles, our network infrastructure is increasingly overloaded, and for the deployment of 5G-enabled broadband, utility poles Network audiences are priceless for sustainable forward infrastructure, "said Alan Kiraly, senior vice president, network and asset performance, Bentley Systems.
The acquisition of SPIDA Software, while not important to Bentley's financial results, will add 26 colleagues in North America. 7 Mile Advisors advised SPIDA's management and shareholders on the transaction.
Our vision with SPIDA has always been to provide a complete and open solution to maintain and improve the health and integrity of our users' power and communication infrastructure assets. Within the Bentley team, we look forward to accelerating grid digital twin solutions, which leverage our industry domain expertise and incorporate SPIDA structural analyses. Current and future users of SPIDA can confidently look forward to leveraging network digital twins as they upgrade, modify, expand and manage their airborne systems.” Brett Willitt, President of SPIDA Software
What does it mean?
Thanks to this new acquisition of Bentley Systems to improve the performance and resistance of its network, it fits in with the cloud services of (DT) digital twin -Open Utilities- that this technological giant has offered. This fusion of ideas and systematization of processes allows addressing the new challenges associated with clean / renewable energies, as well as improving the analysis of equipment structures related to public services.
Bentley increasingly relies on technologies for comprehensive and sustainable space development. The importance of having advances of this type is to have the ideal infrastructure for the deployment and correct connectivity of both 5G services and the strengthening of electricity networks and their durability over time. Bentley System's wise decisions have been reflected in its share price rise since last year. This indicates that it will continue to grow and constantly evolve, adapting its solutions to the reality of this 4th industrial revolution.
We are very pleased to welcome our new colleagues from SPIDA to Bentley Systems and OpenUtilities, and look forward to further integrating and globalizing SPIDA software, already known as the stalwart trusted by power distribution engineers in their essential work to improve the network performance and resiliency. Ian Kiraly, Senior Vice President, Network and Asset Performance, Bentley Systems.
About Bentley Systems
Bentley Systems (Nasdaq: BSY) is the infrastructure engineering software company. We provide innovative software to advance the world's infrastructure, sustaining both the global economy and the environment. Our industry-leading software solutions are used by professionals and organizations of all sizes for the design, construction and operations of roads and bridges, railways and transit, water and wastewater, public works and utilities, buildings and campuses. and industrial facilities. Our offerings include MicroStation-based applications for modeling and simulation, ProjectWise for project delivery, AssetWise for network and asset performance, and the iTwin platform for infrastructure digital twins. The Bentley System employs more than 4000 colleagues and generates annual revenues of more than $ 800 million in 172 countries. www.bentley.com