Dassault Systemes SE will acquire Medidata Solutions Inc. for $92.25 per share in cash, according to its announcement published on Monday, in which it estimates the transaction would be completed by the end of the year. The French developer of three-dimensional design had its bid passed by shareholders of the target entity. It values the company based in New York at $5.8 billion on an enterprise basis, which means the price includes debt and other items.
The transaction is pending the green light by the Committee on Foreign Investment in the United States, or CFIUS, and other clearances. Medidata creates software for clinical trials. Its headquarters are in Vélizy-Villacoublay near Paris. The bid was accepted by holders of 78% of its outstanding common stock and 99% of shares.
"After this new step towards the acquisition, I look forward to welcoming soon our new colleagues to Dassault Systemes. Along with highly skilled Medidata teams, we will be the enabler of the life sciences industry shift to science-based experience, illustrating our company s purpose of harmonizing product, nature and life," Dassault Systemes' vice chairman and chief executive Bernard Charles said.
