France’s Dassault Systemes moved to build up its life sciences presence with a $5.8 billion cash deal to buy Medidata Solutions, a U.S. firm focused on clinical trials.
Dassault Systemes has been doing deals to diversify its technology and software businesses further and its agreed acquisition of Medidata, its largest, follows its purchases of companies including Trace Software and Argosim.
Medidata has a market capitalization of around $5.9 billion, Refinitiv Eikon data shows, while Dassault has a stock market value of around 36 billion euros ($41 billion).
Although the $92.25 per share offered marked a slight discount to Medidata’s closing price of $94.75 on June 11, analysts said that it was at a premium of 6.6% to Medidata’s 50-day average price of $86.50 over the last 50 days.
Medidata’s shares had…