sensemetrics Acquired by Bentley Systems, Inc. to Accelerate Infrastructure IoT
14 May 2021 - 11:00PM
sensemetrics Inc., a global Industrial IoT (IIoT) and cloud
technology company transforming sensor data into real-time business
intelligence, today announced it has been acquired (agreement
executed) by Bentley Systems, Incorporated (Nasdaq: BSY), the
infrastructure engineering software company.
“Since our founding in 2014, we have advanced our
vision to simplify connectivity and standardize industrial sensor
data to bring active risk management and safety solutions to
infrastructure, mining and construction markets,” said Cory
Baldwin, CEO, sensemetrics. “The acquisition is a tremendous
accomplishment for our team and an exciting milestone for us as we
join the Bentley family to take our vision to the next level. We
would like to thank X2 Equity, sensemetrics’ largest investor, for
their unwavering support, guidance, and mentorship in navigating
the challenges of developing and delivering disruptive technologies
to the markets we serve.”
In its news release about the acquisition, Bentley Systems
credits sensemetrics for making “widespread infrastructure IoT
deployments feasible by providing simple and reliable means to
connect, store, and stream sensor data from a wide range of sensor
devices for continuous and automated condition monitoring.”
The acquisition follows sensemetrics’ recent expansion of its
IIoT sensor automation portfolio, with the January 2021 launch of
the Thread X3, a next-generation broadband IIoT sensor
connectivity device, and the March 2021 introduction of the Strand,
a cost-effective narrowband solution. Both solutions are designed
for organizations seeking to reduce risk, improve safety, and
increase visibility to key insights in complex infrastructure,
mining, geotechnical and environmental sectors.
sensemetrics’ technology and talent will be leveraged to add
intrinsic IoT capabilities to the Bentley iTwin platform, enabling
infrastructure digital twins to incorporate real-time sensor data
and ultimately, advance asset performance and mitigate
environmental risks. More information on how sensemetrics will help
accelerate Bentley Systems’ infrastructure IoT strategy can be
found here.
“The acquisition brings us closer to our goal to effortlessly
connect decision makers with condition monitoring data and insights
that are critical to the safe and efficient operation of their
assets,” said Baldwin. “The synergies enabled by extending
infrastructure digital twins through infrastructure IoT are
compelling, and we are excited to play a pivotal role in this
advancement.”
X2 Equity CEO and Founder Marc Sperschneider added, “Cory
leads a first-class team, and we thank them for what has been a
great partnership since we invested. We have built significant
value in the business together, investing in the technology
platform and launching several new products while transforming the
sales and go-to-market strategy – all enhancing the customer
experience. On behalf of the entire board, I wish Cory and the team
all the best for their partnership with Bentley going forward.”
sensemetrics, with global operations and offices in both San
Diego and Denver, will add a staff of approximately 25 to Bentley
Systems, including Baldwin and his leadership team.
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
environment. Our industry-leading software solutions are used by
professionals, and organizations of every size, for the design,
construction, and operations of roads and bridges, rail 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 asset
and network performance, and the iTwin platform for infrastructure
digital twins. Bentley Systems employs more than 4,000 colleagues
and generates annual revenues of more than $800 million in 172
countries.www.bentley.com
About sensemetrics sensemetrics is a leading
innovator in the Industrial Internet-of-Things (IIoT) market,
offering the only market-proven, cloud-based enterprise software
platform that simplifies connectivity and standardizes industrial
sensor data, enabling our partner network to more efficiently
provide active risk management and safety
solutions. www.sensemetrics.com
Media Contact:Paula
JohnsPJC760-522-0941paula@paulajohnscommunications.com
A photo accompanying this announcement is available at
https://www.globenewswire.com/NewsRoom/AttachmentNg/3a623eee-88e2-4f0e-be28-d2cda63a75ba
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