Industry leader in geothermal simulation software, Flow State Solutions, has sold the Flow State Solutions business to Seequent, The Bentley Subsurface Company.
Bentley Systems, an infrastructure engineering software company, is used by organisations in 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.
Leading New Zealand law firm, MinterEllisonRuddWatts acted for Flow State Solutions and its sister company, Fafnir Limited, on the transaction.
New Zealand-based Flow State Solutions offers geothermal reservoir, wellbore and surface network simulation software, assisting project developers and operators to better understand geothermal resources for asset development and optimisation, and improved well performance.
The acquisition will see Seequent’s geological modelling capabilities combine with Flow State Solutions’ geothermal simulation software, offering an enhanced and all-in-one software solution to provide organisations with a full understanding of geothermal asset performance – creating improved management of subsurface natural resources.
Corporate Partner John Conlan led the law firm’s deal team and said: “It’s fantastic to assist Flow State Solutions with this acquisition.
” The continued acquisition of New Zealand technology companies by global leaders demonstrates the leadership and innovation within the country’s technology sector. Transactions like these continue to grow New Zealand’s reputation as a tech innovation hub in the Asia-Pacific region and highlight the sound investments available here.”
The MinterEllisonRuddWatts team has advised on all aspects of the transaction, and was led by Partner John Conlan, supported by partners Rodney Craig and Simon Akozu, and Senior Solicitor Max McMahon.