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Published on 12/06/2019 11:10:34 AM | Source: Reuters

Dassault Systemes to buy Medidata Solutions in $5.8 billion deal

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PARIS - French technology company Dassault Systemes said it had agreed to buy Medidata Solutions, a U.S. software company dealing in the sphere of clinical trials, in a deal worth $5.8 billion on an enterprise value basis.

Dassault Systemes said it was offering $92.25 per share for Medidata, a slight discount to Medidata Solutions' closing price of $94.75 on June 11. Medidata has a stock market capitalisation of around $5.9 billion, according to Refinitiv Eikon data.

Dassault Systemes added that the takeover would strengthen its position in the life sciences field.

"Medidata's leading position in clinical trials complements our life sciences solutions on the 3DEXPERIENCE collaborative platform," said Dassault Systemes CEO Bernard Charles.

Dassault Systemes has been on the takeover trail of late, and its acquisition of Medidata follows earlier takeovers of other software companies such as Trace Software and Argosim.

Medidata had 2018 revenue of $636 million, and Dassault Systemes expects to close the acquisition during the fourth quarter of 2019.

(Reporting by Sudip Kar-Gupta; Editing by Muralikumar Anantharaman and Gopakumar Warrier)