European software company Dassault Systemes will acquire United States technology company Medidata Solutions in a transaction worth $5.8 billion, the two companies announced in a press release on Wednesday.
Dassault will acquire Medidata for $92.25 per share, which represents an enterprise value of $5.8 billion. The latter's fiscal year ended on December 31 last year and its revenue was $636 million. Both companies' board of directors have approved the transaction, which is expected to be completed in the last quarter of this year subject to regulatory and shareholder approvals as well as customary closing conditions.
"Medidata’s leading position in clinical trials complements our life sciences solutions on the 3DEXPERIENCE collaborative platform. Medidata’s recent expansion into real world evidence and analytics coupled with the power of modeling and simulation demonstrates how the virtual world will catalyze the next generation of patient-inclusive therapeutics," said Dassault Vice Chairman and CEO Bernard Charles (pictured). "We are now well positioned to be the enabler of the Life Sciences industry transformation, illustrating our company’s purpose of harmonizing product, nature and life," he added.
