Bentley Systems held its first annual corporate update yesterday, which was not an earnings call, as they are a privately held company. Coupled with that update was the announcement of the acquisition of SACS, an integrated finite element specialized offshore structural analysis software, the launch of iWare Apps to facilitate the use of Bentley iModels, and new sustainable licensing through what the company is calling “annual portfolio balancing.”
Each product launch announced – SACS and the iWare Apps – circles back to structural analysis, an area that Bentley is focusing on a lot. SACS opens up offshore oil & gas industry to Bentley, where previously they have focused on onshore accounts. iWare Apps extend iModel which provides integrated structural modeling (ISM) methodology for the creators and consumers of structural project information across multiple vendors’ apps.