| Decision | Consent granted Section 13(1)(a) Overseas Investment Act 2005 |
|---|---|
| Decision Maker | Overseas Investment Office |
| Decision Date | 10 June 2021 |
| Pathway(s) | Significant business assets only |
| Investment | An overseas investment in significant business assets, being the Applicant’s acquisition of rights or interests in 100% of the shares of Seequent Holdings Limited (NZ Company Number 6833561) |
| Consideration | Approximately $1.46 billion. |
| Applicant | Bentley Systems, Incorporated United States (86%) Germany (14%) |
| Vendor | Existing shareholders of Seequent Holdings Limited United States (46%) New Zealand (9%) Various (45%) |
| Background | The Applicant, Bentley Systems, Incorporated (“Bentley”), is a large-scale United States based infrastructure engineering software company, with offices and customers around the world. The Target, Seequent Holdings Limited (“Seequent”), is a leader in geoscience software that enables decision making in the mining and exploration, civil engineering, environmental, and energy sectors. Seequent’s head office is in Christchurch, and it has offices outside of New Zealand in Australia, Brazil, Canada, Chile, Peru, Russia, South Africa, the United States, and the United Kingdom. The Applicant has satisfied the OIO that the individuals who will control the investment have the relevant business experience and acumen and are of good character. The Applicant has also demonstrated financial commitment to the investment. |
| More information | Glenn Shewan Bell Gully (Auckland) PO Box 4199 Auckland 1140 |