Bentley Agrees to Acquire STAAD Product Lines From netGuru
August 25 2005 - 1:59PM
Business Wire
On Aug. 22, netGuru, Inc. (Nasdaq:NGRU) announced that it had
entered into an asset purchase agreement with Bentley Systems,
Incorporated, under which Bentley has agreed to acquire netGuru's
Research Engineers International (REI) business. This business
includes the market-leading STAAD.Pro structural analysis and
design product line. At the time of the acquisition, Santanu Das,
netGuru's chief operating officer, will join Bentley. Commenting on
the agreement, Buddy Cleveland, senior vice president, Bentley
Software, explained the attraction of the REI business and STAAD
product lines to Bentley. "We are very excited about this agreement
and look forward to welcoming the STAAD users to the Bentley user
community," said Cleveland. "This acquisition will extend our
design solutions in all four of our vertical market segments with
one of the most popular and comprehensive structural design product
lines in the market today." Added netGuru Chairman and Chief
Executive Amrit Das: "The engineering software industry has been
consolidating and moving toward full integration of software
capabilities. The joining of REI's engineering operations,
including the STAAD brand of software and services and support,
with Bentley as a leading software provider to the AEC market,
would form a powerful complement that would be able to provide
seamless workflow processing capabilities for engineers around the
world." The acquisition will include netGuru's worldwide operations
associated with REI, including the STAAD structural analysis and
design product lines, software and product development, customer
support and relationships, and offices associated with the
worldwide business, including offices in Yorba Linda, Calif.;
Bristol, U.K.; and Kolkata, India; as well as REI sales offices in
other parts of Europe and Asia. netGuru will retain its
collaborative software operations and products, including eReview
and ForReview, and its information technology and engineering
business process outsource services businesses. The sale is subject
to various closing conditions, including approval by netGuru
stockholders and compliance with regulatory requirements. If
approved, the sale is expected to close before the end of 2005.
About netGuru netGuru is an engineering information technology and
services company offering engineering analysis and design software,
collaborative software solutions, and professional and technical
information technology services and support to businesses
worldwide. It serves its global markets and clients through offices
located in the United States, Europe, Asia, and the Middle East,
and through distributors in 40 countries. The company licenses its
engineering software and solutions to more than 19,000 businesses
in 100 countries. For more information, visit www.netguru.com.
About Bentley Bentley Systems, Incorporated provides software for
the lifecycle of the world's infrastructure. The company's
comprehensive portfolio for the building, plant, civil, and
geospatial vertical markets spans architecture, engineering,
construction (AEC) and operations. With 2004 revenues exceeding
$300 million, Bentley is the leading provider of AEC software to
the Engineering News-Record Design 500 and major owner-operators.
To receive Bentley press releases as they are issued, visit
www.bentley.com/bentleywire. For more information, visit
www.bentley.com. Bentley and the "B" logo are either registered or
unregistered trademarks or service marks of Bentley Systems,
Incorporated or one of its direct or indirect wholly-owned
subsidiaries. Other brands and product names are trademarks of
their respective owners.
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