Dassault Systemes (DASTY) and Medidata Solutions (MDSO) announced overnight the signing of a definitive agreement for Dassault to acquire Medidata in an all-cash transaction at a price of $ 92.25 per share of Medidata, representing an enterprise value of $5.8B.
Shares of Medidata closed yesterday up $3.96 to $94.75.
The transaction was unanimously approved by the boards of both companies. "With the acquisition of U.S.-based Medidata and its clinical and commercial solutions, Dassault Systemes will reinforce its position as a science-based company by providing the Life Sciences industry with an integrated business experience platform for an end-to-end approach to research and discovery, development, clinical testing, manufacturing and commercialization of new therapies and health technologies," the company said in a statement.
Completion of the acquisition is expected during the last quarter of 2019 and is subject to certain regulatory approvals and approval by the majority of Medidata's shareholders.
Comments
Log in or sign up to join the conversation.