Bentley Systems, Incorporated (Nasdaq: BSY), an Exton, PA-based infrastructure engineering software company, announced the acquisition of Blyncsy, a Salt Lake City, Utah-based provider of artificial intelligence services for departments of transportation to support operations and maintenance activities.
The amount of the deal was not disclosed. The acquisition was supported for Blyncsy by Ignatious Growth Capital and Advisory.
Blyncsy will adopt Bentley’s iTwin Platform for immersive integration with infrastructure owners’ engineering and simulation models, and Bentley will incorporate and bring to market Blyncsy’s AI services within its emerging mobility digital twin offerings.
Founded in 2014 in by CEO Mark Pittman, Blyncsy applies computer vision and artificial intelligence in analyzing commonly available imagery to identify maintenance issues on roadway networks. Investors in the company included Peterson Ventures, Doug Wells, Elemental Excelerator, Park City Angel Network, OakHouse Partners, and CEAS Investments.
Blyncsy’s AI services replace costly and slow manual data collection efforts, reducing the need for personnel or specialized vehicles or hardware in the field and improving transportation owner-operators’ awareness and timely mitigation of road conditions. It detects over 50 different roadway safety issues, including the actual location of active construction work zones.
Bentley Systems (Nasdaq: BSY) is the infrastructure engineering software company, which provides innovative software to advance the world’s infrastructure – sustaining both the global economy and environment. The 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, mining, and industrial facilities. The offerings, powered by the iTwin Platform for infrastructure digital twins, include MicroStation and Bentley Open applications for modeling and simulation, Seequent’s software for geoprofessionals, and Bentley Infrastructure Cloud encompassing ProjectWise for project delivery, SYNCHRO for construction management, and AssetWise for asset operations.
FinSMEs
15/08/2023