Schneider Electric is in negotiations with engineering software company Bentley Systems (BSY.US).
The Zhitong Finance App learned that Schneider Electric (SBGSF.US) confirmed that the company is in negotiations with engineering software company Bentley Systems (BSY.US). Schneider Electric said in a statement on Friday that the negotiations are part of its software strategy.
“Discussions on potential deals are still in the preliminary stages, and it is uncertain whether any deal will be reached,” Schneider Electric said on Friday.
Bentley said in a statement on Friday that it will not publicly comment on market rumors or speculations, and does not intend to comment on the matter.
According to media reports on Thursday evening, citing people familiar with the matter, the two companies are in early negotiations on a deal in which Schneider will merge its software business with Bentley. In the deal, Bentley will remain a publicly traded company.
Family-owned Bentley shares rose 4% on Thursday after reports that the company is considering a sale or other transaction to address acquisition interest. Schneider Electric and design software company Kengteng Electronics (CDNS.US) are said to have expressed interest in Bentley. According to another media report, the Bentley family is not interested in a direct sale.
The Bentley family controls the company through a special kind of stock. The company has reportedly formed a special committee within the board to explore its options, including a direct sale or joint venture.
As of press time, Bentley Systems was up 0.46% to $52.30 in the premarket.