Siemens is weighing an acquisition of Bentley Systems, according to people familiar with the matter, in what would mark a fresh push into industrial-software dealmaking by Europe’s largest engineering firm.
Bentley, if purchased, would become part of Siemens’s digital industries division, the people said, asking not to be identified as the information is private. No final decisions have been made and a deal could still fail to materialise, the people said.
A spokesperson for Siemens declined to comment. A representative for Bentley did not immediately respond to requests for comment. Siemens shares rose as much as 1.6 per cent to €117.60 (Dh510.38) in intraday trading Monday.
Bentley, based in Exton, Pennsylvania, develops software to help manage engineering projects, particularly in the infrastructure and construction industries. The company has more than 3,500 employees and generates $700 million (Dh2.5 billion) in annual revenue, according to its website.
Siemens already holds a 14 per cent stake in Bentley, according to one of the people. The companies entered into a strategic alliance to develop commercial initiatives in 2016 and renewed the pact two years later, saying at the time that €100m ($118m) had been pledged to the venture.
The purchase would mark the beginning of Siemens’s push into software under incoming chief executive Roland Busch. He is scheduled to take over in February from Joe Kaeser, who will leave Siemens a transformed company that bears little resemblance to the one he took over in 2013.
Under Mr Kaeser, Siemens focused on software applications that are crucial to run its industrial equipment and in 2016 paid $4.5bn to purchase Mentor Graphics, Bloomberg News reported at the time. Following the Mentor Graphics deal, Siemens planned to pause growing its industrial-software business through large takeovers.
Siemens saw profit rise 8 per cent in its third quarter as the company dealt with the coronavirus crisis better than expected. Results were boosted by strong performance from the software business, where profit surged 62 per cent in part thanks to the valuation of its stake in Bentley.
There has been a flurry of industrial software deals in the last month as the world’s biggest machine makers push into digital production. Aveva Group agreed to buy SoftBank Group - backed Osisoft for $5bn and Emerson Electric said it would acquire Open Systems International for $1.6bn.
Mohammed bin Zayed Majlis
What can victims do?
Always use only regulated platforms
Stop all transactions and communication on suspicion
Save all evidence (screenshots, chat logs, transaction IDs)
Report to local authorities
Warn others to prevent further harm
Courtesy: Crystal Intelligence
Overview
What: The Arab Women’s Sports Tournament is a biennial multisport event exclusively for Arab women athletes.
When: From Sunday, February 2, to Wednesday, February 12.
Where: At 13 different centres across Sharjah.
Disciplines: Athletics, archery, basketball, fencing, Karate, table tennis, shooting (rifle and pistol), show jumping and volleyball.
Participating countries: Algeria, Bahrain, Comoros, Egypt, Iraq, Jordan, Kuwait, Lebanon, Libya, Morocco, Oman, Palestine, Saudi Arabia, Sudan, Syria, Tunisia, Qatar and UAE.
How to apply for a drone permit
- Individuals must register on UAE Drone app or website using their UAE Pass
- Add all their personal details, including name, nationality, passport number, Emiratis ID, email and phone number
- Upload the training certificate from a centre accredited by the GCAA
- Submit their request
What are the regulations?
- Fly it within visual line of sight
- Never over populated areas
- Ensure maximum flying height of 400 feet (122 metres) above ground level is not crossed
- Users must avoid flying over restricted areas listed on the UAE Drone app
- Only fly the drone during the day, and never at night
- Should have a live feed of the drone flight
- Drones must weigh 5 kg or less
MATCH INFO
Manchester United 2 (Heaton (og) 42', Lindelof 64')
Aston Villa 2 (Grealish 11', Mings 66')
MATCH INFO
Uefa Champions League semi-final, first leg
Barcelona v Liverpool, Wednesday, 11pm (UAE).
Second leg
Liverpool v Barcelona, Tuesday, May 7, 11pm
Games on BeIN Sports
The specs
Engine: 2.0-litre 4cyl turbo
Power: 261hp at 5,500rpm
Torque: 405Nm at 1,750-3,500rpm
Transmission: 9-speed auto
Fuel consumption: 6.9L/100km
On sale: Now
Price: From Dh117,059
Islamophobia definition
A widely accepted definition was made by the All Party Parliamentary Group on British Muslims in 2019: “Islamophobia is rooted in racism and is a type of racism that targets expressions of Muslimness or perceived Muslimness.” It further defines it as “inciting hatred or violence against Muslims”.
MATCH INFO
Sheffield United 0 Wolves 2 (Jimenez 3', Saiss 6)
Man of the Match Romain Saiss (Wolves)
Gulf Under 19s final
Dubai College A 50-12 Dubai College B
The specs: 2019 Infiniti QX50
Price, base: Dh138,000 (estimate)
Engine: 2.0L, turbocharged, in-line four-cylinder
Transmission: Continuously variable transmission
Power: 268hp @ 5,600rpm
Torque: 380Nm @ 4,400rpm
Fuel economy: 6.7L / 100km (estimate)
Terminal High Altitude Area Defense (THAAD)
What is THAAD?
It is considered to be the US' most superior missile defence system.
Production:
It was first created in 2008.
Speed:
THAAD missiles can travel at over Mach 8, so fast that it is hypersonic.
Abilities:
THAAD is designed to take out projectiles, namely ballistic missiles, as they are on their downward trajectory towards their target, otherwise known as the "terminal phase".
Purpose:
To protect high-value strategic sites, such as airfields or population centres.
Range:
THAAD can target projectiles both inside and outside of the Earth's atmosphere, at an altitude of 93 miles above the Earth's surface.
Creators:
Lockheed Martin was originally granted the contract to develop the system in 1992. Defence company Raytheon sub-contracts to develop other major parts of the system, such as ground-based radar.
UAE and THAAD:
In 2011, the UAE became the first country outside of the US to buy two THAAD missile defence systems. It then deployed them in 2016, becoming the first Gulf country to do so.
Five expert hiking tips
Always check the weather forecast before setting off
Make sure you have plenty of water
Set off early to avoid sudden weather changes in the afternoon
Wear appropriate clothing and footwear
Take your litter home with you
The five pillars of Islam
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