Sep24Thu

Inside Bentley Systems’ ‘very unusual’ $235M IPO

Philadelphia Business Journal

Bentley Systems Inc., an Exton software company founded by a team of five brothers 36 years ago, reached a milestone Wednesday when it debuted on the Nasdaq stock exchange. Shares opened at $22 and shot up more than 52% to close at $33.49.

The company, a maker of leading software applications for engineers who design large infrastructure projects like the new Tappan Zee Bridge in New York —  raised more than $235 million in its IPO under the ticker symbol BSY.

Unlike other IPOs, where a company issues new shares in order to raise cash and fuel expansion, Bentley Systems is only selling shares already owned by its more than 4,000 employees. The idea is to reward those employees with liquidity, CEO Greg Bentley said, after they helped the company get to where it is today.

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Sep22Tue

Life Science Forum company in the news

Irish drug that could cure Parkinson’s Disease sold for $446 million
IrishCentral.com

Dr. Jeremy Skillington, Vice President of Business Development for Inflazome, travelled to Philadelphia to participate in our Life Sciences Forum this January. In one of the largest deals in Irish biotech history, Inflazome, based out of Trinity, has been sold to Roche.

The Dublin-based drug sells opening treatment of Alzheimer’s, Parkinson’s, and cardiovascular disease to the market.

An Irish company that develops treatments for inflammatory diseases, a collaboration between Trinity College Dublin and the University of Queensland, has been sold for an up-front payment of $446m (€380m) from Roche, plus additional payments based on the achievement of certain milestones.

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Sep22Tue

Irish Weekend 2020 – Irish American Films

The North Wildwood Irish Weekend Festival has been belated a year but, you can watch Irish themed TV content including Irish American Films’ North Wildwood Irish Weekend Festival TV Special and several other documentaries and tv specials by clicking the links embedded below:
North Wildwood Irish Fall Festival (Irish Weekend) Out and About USA Irish TV Episode: https://www.youtube.com/watch?v=8G1731vmi_s&t=8s%5D
History of The Philadelphia St. Patrick’s Day Parade Documentary Film Free Online: https://www.youtube.com/watch?v=Ro7iAzLuIIA
Our Duffy’s Cut Documentary Film “The Cut” is now available to view online for a limited time for free at:
Irish American Vietnam Combat Veteran Jim Kirlin PTSD Episode Online:
Irish American Business Chamber 20th Anniversary Video and Public TV Show: https://www.youtube.com/watch…
Marty Magee’s 10th Anniversary Public TV Special:https://www.youtube.com/watch?v=fshnNn6Z6cQ&t=5s
Sep22Tue

Member News from IBX

Independence Blue Cross CEO Dan Hilferty retiring at end of 2020; company names successor
Philadelphia Business Journal

Independence Health Group CEO Daniel J. Hilferty will retire from the position on Dec. 31, ending a 10-year run in which he’s overseen a wave of growth at the region’s dominant insurer and emerged as one of Greater Philadelphia’s most influential business leaders.

Gregory E. Deavens, currently executive vice president, CFO and treasurer of Independence, will assume the role of president and CEO effective Jan 1. Hilferty, 64, will remain in an advisory capacity through the end of 2022.

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