Schneider Electric confirmed it is in talks over taking control of Bentley Systems, an Exton engineering-software company, in a deal potentially worth over $15 billion, write Lauren Thomas and Laura Cooper for The Wall Street Journal.

The French company announced on Friday it is in preliminary discussions with Bentley about a “potential strategic transaction,” but did warn a deal is not certain.

The Exton company issued a statement Friday saying, “Bentley does not publicly comment on market rumors or speculation and does not intend to comment on this matter.”

If the merger takes place, Bentley would remain a public company, but a significantly larger one.

Bentley has a market value of $15.6 billion. The family-controlled company’s shares rose around 4 percent to $52.06 on Thursday, after it was reported it is exploring alternatives following takeover interest.

According to people familiar with the matter, an outright sale is not on the table for the Bentley family.

The company was founded in 1984 by brothers Keith and Barry Bentley. Bentley’s software is used by structural and civil engineers to model and simulate infrastructure projects, including roads, airports, and water-treatment plants.

Bentley went public four years ago. It has annual revenue of over $1 billion.

Schneider Electric is a large maker of electrical and automation products with a market value of about $127 billion.

Read more about Schneider Electric’s interest in taking control of Bentley Systems in The Wall Street Journal.

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