Categories Earnings, Technology

Dassault agrees to buy Medidata for $5.8 billion

French company Dassault Systemes agreed to buy Medidata Solutions Inc. (NASDAQ: MDSO) for $5.8 billion. The all-cash transaction was approved by the boards of directors of both companies and is expected to close during the last quarter of 2019.

The purchase price of $92.25 per share is at a slight discount to Medidata’s Tuesday closing price of $94.75. For its most recent quarter, Medidata had reported a 16% growth in revenue to nearly $174 million along with adjusted EPS of $0.45. The company has a market valuation of $5.9 billion.

Medidata provides data and analytics tools for clinics and medical device companies and Dassault hopes to expand its footprint in the fast-growing life sciences market with the help of this acquisition.

Bernard Charles, CEO, Dassault Systemes said, “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 catalyse the next generation of patient-inclusive therapeutics.”

Medidata’s shares have gained 44% thus far this year. The stock was down 3.2% in morning hours on Wednesday.

Follow our Google News edition to get the latest stock market, earnings and financial news at your fingertips.

Most Popular

CCL Earnings: Carnival Corp. Q4 2024 revenue rises 10%

Carnival Corporation & plc. (NYSE: CCL) Friday reported strong revenue growth for the fourth quarter of 2024. The cruise line operator reported a profit for Q4, compared to a loss

Key metrics from Nike’s (NKE) Q2 2025 earnings results

NIKE, Inc. (NYSE: NKE) reported total revenues of $12.4 billion for the second quarter of 2025, down 8% on a reported basis and down 9% on a currency-neutral basis. Net

FDX Earnings: FedEx Q2 2025 adjusted profit increases; revenue dips

Cargo giant FedEx Corporation (NYSE: FDX), which completed an organizational restructuring recently, announced financial results for the second quarter of 2025. Second-quarter earnings, excluding one-off items, were $4.05 per share,

Add Comment
Loading...
Cancel
Viewing Highlight
Loading...
Highlight
Close
Top