Bentley Systems Subsidiary Acquires Ontracks Consulting For Undisclosed Sum - Bentley Systems (NASDAQ:BSY)

Bentley Systems Inc’s 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.