France's Dassault to acquire Medidata for $5.8 billion

French software company Dassault Systems says it will buy U.S.-based Medidata Solutions for $5.8 billion in cash.

Dassault said Wednesday that it was offering of $92.25 for each share of Medidata, slightly less than its $94.75 closing price on Tuesday. Medidata shares dipped about 4% in premarket trading.

New York-based Medidata provides cloud-based services and software to help medical and pharmaceutical companies manage data and track .

The companies said that 18 of the top 25 are Medidata clients. Medidata, which has 16 offices across seven countries, had revenue of $636 million last year.

The deal is expected to close in the last quarter of 2019 pending approval by a majority of Medidata shareholders.


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Citation: France's Dassault to acquire Medidata for $5.8 billion (2019, June 12) retrieved 19 June 2019 from https://phys.org/news/2019-06-france-dassault-medidata-billion.html
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