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Archive for the ‘Intergraph’ Category

Bentley Systems’ Performance for 2011

Wednesday, March 14th, 2012

Bentley Systems CEO Greg Bentley gave Bentley Systems’ second annual Corporate Update in a conference call last week.

“Bentley Systems’ revenue on an historical gap basis grew 10% to a record $523 million,” said Bentley. Asia was a major driver of this growth, increasing to comprise 19% of total revenue from 16% in 2010.

The software subscription business model accounts for 17% of revenues in 2011. The company’s resilient subscription revenues have enabled them to fully recover from the downturn faster than their competitors and software peers with less volatility and with greater visibility into this coming year.

The subscription business model also benefits the user organization that had invested in their future reuse of infrastructure information modeling through Bentley software. The relative lack of volatility in Bentley Systems’ revenues is good for the company’s stability and reliability and that is, along with subscription elimination of cost barriers for technology adoption and improvement, is good for user organizations.

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LiveLink integrates GIS with remote sensing and image processing

Tuesday, February 7th, 2012

Mladen Stojic,  vice president Geospatial, Intergraph, talked about their new Live Link product which integrates Intergraph GeoMedia objects into ERDAS IMAGINE. Intergraph is a wholly owned subsidiary of Hexagon acquired in 2011. What this product offers is what customers have been asking for – an integrated approach to desktop workflows, combining the desktop GIS capability of  GeoMedia integrated with the raster remote sensing and image processing capabilities of ERDAS IMAGINE.

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Intergraph settles 8-year suit with Bentley Systems for $200M

Thursday, January 20th, 2011

The following article in this week’s Huntsville Times settled a matter that many thought had been settled long ago.

 

Intergraph Settles $200M suit with Bentley Systems

 

HUNTSVILLE, AL — An eight-year lawsuit between the former Intergraph Corp. and Pennsylvania-based software maker Bentley Systems has been settled for nearly $200 million, according to court documents.

The settlement is among the largest in Madison County history, court watchers said.

As part of a settlement agreed upon last month, Cobalt BSI Holding, which bought Intergraph in 2006, will sell back to Bentley its 15.6 million shares of Bentley stock, at a purchase price of just over $12 per share, totaling about $198 million, according to court documents. In July 2010, Sweden-based Hexagon AB bought Intergraph from Cobalt for $2.1 billion.

The settlement total includes $9.9 million in fees and expenses awarded to Cobalt’s attorneys, including Bartley Loftin III of Huntsville and his firm, Maynard Cooper & Gale.

Intergraph sold its civil engineering products to Bentley in 2000 and the deal included proceeds from maintenance contracts.

In 2002 the companies began their long courtroom skirmish, with Intergraph challenging how much Bentley owed it from a promissory note and Bentley countersuing in connection with Intergraph’s handling of the maintenance contracts.

As part of the settlement, both sides agreed not to issue press releases about the agreement or otherwise publicly discuss the case, except to note the agreement was “consensually resolved.”

A settlement hearing before Circuit Judge Tom King, from Jefferson County, who gave preliminary approval to the deal in December, will be Feb. 10 at the Madison County Courthouse.

-Huntsville Times

In July 2010, Sweden-based Hexagon AB bought Intergraph from Cobalt BSI Holding for $2.1 billion.

One question that arose among those of us who have followed Intergraph since the days when Bentley Systems was owned by Intergraph, is: does Intergraph still own 30 percent of Bentley Systems, and if so, how is Bentley affected by the recent news of this acquisition?

In an AECCafe Today blog, on July 13, 2010, Chris Barron, vice president of corporate marketing for Bentley, responded:  ”As a privately held company, Bentley does not routinely report on the identity of its minority stockholders or the stockholders or the size of their holdings. However, in response to your question, we can advise you that the Bentley shares previously held by Intergraph were transferred to an affiliate of its private equity owners following its going private transaction in 2006 and we have no indications that those shares are part of the sale to Hexagon.” 

Clearly much of what has gone on with Intergraph and Bentley has occurred under wraps and the two companies have agreed not to issue press releases or publicly discuss the case.

 

Funding the acquisition of Intergraph means selling bonds for Hexagon

Tuesday, October 12th, 2010

Hexagon AB plans to sell bonds to refinance part of the loans used to fund the acquisition of Intergraph Corp.

According to the article below, “The company plans to raise $850 million from a share sale to help refinance some of the debt after it completes the purchase. Hexagon said on July 7 it agreed to buy Huntsville, Alabama-based Intergraph for $2.13 billion to add software that helps companies visualize complex data and design factories, ships and oil rigs.”

Hexagon Plans Bond Sale to Retire Intergraph Acquisition Loans Bloomberg Business Week, October 12, 2010

More on acquisition of Intergraph by Hexagon AB

Wednesday, July 14th, 2010

A reader suggested I post this on GISCafe Today, as it ran yesterday on AECCafe Today:

The recent announcement that Intergraph has signed a definitive agreement to be acquired by Hexagon AB, raised questions among the media. Hexagon AB is a global measurement technology company, and the transaction is valued at approximately $2.125 billion.

According to the press release, “Upon closing of the transaction, Intergraph will operate as a separate Hexagon division under the Intergraph name and branding.  Intergraph will become Hexagon’s core software platform and will continue to provide differentiated and vertically-focused software solutions to its core industries.  Intergraph software will also be integrated into Hexagon’s existing measurement and precision technology system markets to provide a visual presentation layer for the management, analysis and sharing of the vast amounts of critical data produced by these products.”

Intergraph customers are assured that “upon closing of the transaction, Intergraph will operate as a separate Hexagon division under the Intergraph name and branding.  Intergraph will become Hexagon’s core software platform and will continue to provide differentiated and vertically-focused software solutions to its core industries.  Intergraph software will also be integrated into Hexagon’s existing measurement and precision technology system markets to provide a visual presentation layer for the management, analysis and sharing of the vast amounts of critical data produced by these products.”

One question that arose among those of us who have followed Intergraph since the days when Bentley Systems was owned by Intergraph, is: does Intergraph still own 30 percenet of Bentley Systems, and if so, how is Bentley affected by the recent news of this acquisition?

Chris Barron, vice president of corporate marketing for Bentley, responded:  ”As a privately held company, Bentley does not routinely report on the identity of its minority stockholders or the stockholders or the size of their holdings. However, in response to your question, we can advise you that the Bentley shares previously held by Intergraph were transferred to an affiliate of its private equity owners following its going private transaction in 2006 and we have no indications that those shares are part of the sale to Hexagon.” 

In 2006, Intergraph was acquired by an investor group led by Hellman & Friedman LLC, TPG Capital and JMI Equity.  Pending regulatory approvals, as well as satisfaction of other customary closing conditions, the transaction is expected to be completed in the third or fourth quarter of 2010.
Incidentally, Hexagon AB is also the parent company for ERDAS, Inc., a company that focuses on incorporating geospatial earth information into businesses’ existing systems and data. ERDAS states that for the immediate future, they do not foresee any change in business as a result of the Intergraph acquisition.

Intergraph to be acquired by Hexagon AB

Wednesday, July 7th, 2010

In a press release today, “Intergraph Corp. announced it has signed a definitive agreement to be acquired by Hexagon AB, a leading global measurement technology company, in a transaction valued at approximately $2.125 billion.

Upon closing of the transaction, Intergraph will operate as a separate Hexagon division under the Intergraph name and branding.

Intergraph will become Hexagon’s core software platform and will continue to provide differentiated and vertically-focused software solutions to its core industries.  Intergraph software will also be integrated into Hexagon’s existing measurement and precision technology system markets to provide a visual presentation layer for the management, analysis and sharing of the vast amounts of critical data produced by these products.

In 2006, Intergraph was acquired by an investor group led by Hellman & Friedman LLC, TPG Capital and JMI Equity. “

Update on Intergraph 2009 Conference

Thursday, June 18th, 2009

The latest count on attendance at the conference is 1500 attendees.

Live from Intergraph 2009

Wednesday, June 17th, 2009

The Intergraph conference in Washington, D.C. drew almost 1,000 attendees this week, in spite of economics worldwide. PR spokespeople did say that there are fewer international attendees than in previous years.
Understandably, Tuesday’s keynotes were all about weathering the economic downturn. CEO Halsey Wise spoke of Intergraph’s anniversary this year of 40 years in business. He talked about how great innovation such as “sliced bread” was spawned during the Great Depression and economic strife presents a great opportunity to come up with innovation. Wise said organizations need to be very efficient and adaptable.

Day Two (Wednesday) featured a press conference with Halsey Wise and Reid French. Wise talked about growth plans, saying that they show you what you will and won’t do.

He also suggested that Intergraph has a different geospatial model than its competitors. He said, “If you’re relying on third parties to add value to your technology then you’re not in as strong a position.”

He added that the recession severely impacts those companies that rely on small, undercapitalized resellers and VARs. He said Intergraph aims for $1 billion in revenue by 2012, not counting acquisitions.

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