Dassault Systèmes has signed an agreement to acquire US-based Medidata Solutions for an enterprise value of $5.8bn (£4.5bn).
The acquisition of Medidata will help Dassault to create its first end-to-end scientific and business platform for life sciences industry.
As per terms of the deal, Dassault will pay $92.25 (£72.53) per share to acquire the American technology company in an all-cash transaction.
Dassault Systèmes vice chairman and CEO Bernard Charlès 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 catalyze the next generation of patient-inclusive therapeutics.”
Medidata is said to lead the digital transformation of life science, with the world’s most used platform for clinical development, commercial, and real-world data.
Powered by artificial intelligence, Medidata’s platform will help accelerate value, minimise risk and optimise outcomes for pharmaceutical, biotech, medical device companies, and academic researchers.
Medidata and its clinical and commercial solutions will allow Dassault to provide customers of life sciences industry with an integrated business experience platform for an end-to-end approach to research and discovery, development, clinical testing, manufacturing and commercialisation of new therapies and health technologies.
Medidata’s clinical expertise and cloud-based solutions is said to support the development and commercialisation of smarter therapies for 1,300 customers.
Based in New York City, the company has 16 offices across seven countries, including the US Japan, Korea, and the UK.
Subject to certain regulatory approvals and other customary closing conditions, the deal is expected to be completed during the last quarter of this year.
Medidata co-founder, chairman and CEO Tarek Sherif said: “Our mission to get the right treatment, to the right patient, at the right time has fueled our 20-year journey of innovation and commitment to the life sciences industry.
“We share common vision, values and passion with Dassault Systèmes, and our combined talents will empower the life sciences industry with an end-to-end business platform.”