- Bentley Systems Inc’s (NASDAQ: BSY) digital integrator business subsidiary, The Cohesive Companies, acquired Canadian IBM Maximo implementer Ontracks Consulting.
- Ontracks specializes in strategic asset management and operational performance improvement for asset-intensive organizations in the energy, utilities, transportation, mining, manufacturing, and government.
- The financial terms of the transaction were not disclosed.
- The Cohesive Companies support the growing demand for enterprise asset management (EAM) and asset lifecycle information (ALIM) environments. The acquisition will consolidate its Maximo business.
- Ontracks offers extensive experience integrating data from IoT sensors, operational technology (OT) systems, and enterprise resource planning (ERP) systems.
- Ontracks recently launched Maximo Fastrack, a turnkey, cloud-based Maximo solution.
- Bentley recently acquired 3D geological modeling and visual data software developer Seequent for $1.05 billion.
- It held cash and cash equivalent of $122 million as of Dec. 31, 2020.
- Price action: BSY shares traded lower by 0.25% at $44.48 on the last check Tuesday.
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