EXTON, PA — Bentley Systems Inc. (Nasdaq: BSY) has acquired French seismic interpretation software developer Eliis through its Seequent subsidiary, expanding the Exton-based company’s subsurface modeling capabilities as demand for geological data analysis extends beyond oil and gas into mining, energy development and resource management.
The acquisition adds Eliis’ seismic interpretation technology to Seequent’s existing geoscience software portfolio and brings more than 100 geoscientists, technical specialists and researchers into the business.
Eliis, founded in 2007 and headquartered in Montpellier, France, develops software that converts seismic imaging data into detailed geological models. Its technology helps geoscientists interpret underground structures and assess geological conditions at depth.
The transaction strengthens Bentley’s position in subsurface engineering software by combining seismic interpretation with geological modeling and reservoir analysis.
Eliis’ principal product, PaleoScan, uses patented Relative Geological Time technology and artificial intelligence-assisted interpretation tools to analyze seismic data.
The software is used by hundreds of energy companies to interpret geological formations and develop models of underground structures.
Eliis also develops PaleoModel, an industry collaboration project designed to connect seismic interpretation with downstream reservoir simulation.
Those capabilities complement Seequent’s existing portfolio, including Leapfrog, a geological modeling platform that enables geoscientists to construct and update three-dimensional subsurface models.
Integrating the technologies is intended to expand the range of geological data that Seequent customers can interpret and use in engineering and resource development decisions.
The acquisition also reflects a broader shift in the commercial applications of seismic technology.
Historically associated with oil and gas exploration, seismic imaging is increasingly relevant to industries seeking more detailed information about underground resources and geological conditions.
Seequent Chief Executive Officer Graham Grant identified declining seismic data acquisition costs and advances in artificial intelligence as factors supporting wider adoption.
“Lower cost seismic data acquisition and AI are expanding the adoption of seismic methods beyond oil and gas,” Grant stated.
He identified opportunities in energy, mining, groundwater management, mineral recovery from brines and carbon storage.
In mining, seismic interpretation can help companies identify deeper mineral deposits and reduce uncertainty about geological formations before committing resources to exploration or development.
The technology also has potential applications in evaluating underground conditions for carbon storage and assessing subsurface resources associated with energy development.
Grant said the acquisition would improve Seequent’s ability to support decisions involving geological uncertainty and operational risk.
For Eliis, the transaction provides access to Seequent’s broader geoscience software portfolio and an opportunity to extend its technology into additional industries.
Benoît Matha, Eliis’ chief executive officer, said the combination would support expansion beyond the company’s established energy industry customer base.
“The combination of Eliis’ seismic expertise with complementary geoscience and reservoir technologies will accelerate our ambition to become a leading subsurface technology platform beyond the energy industry,” Matha stated.
The transaction brings together Eliis’ seismic interpretation capabilities and Seequent’s existing geological modeling technologies within Bentley’s infrastructure engineering software business.
Dechert LLP and Simmons & Simmons LLP served as legal advisers to Bentley and Seequent on the acquisition.
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