Dassault Systèmes signed a definitive agreement on June 12, 2019, to acquire U.S.-based Medidata Solutions Inc. in an all-cash transaction valued at $92.25 per share, totaling an enterprise value of approximately $5.8 billion. This acquisition, which was unanimously approved by both companies' boards, aims to bolster Dassault Systèmes' position as a science-based company, integrating Medidata's vast clinical and commercial solutions into an end-to-end platform for the life sciences industry, covering research, discovery, development, clinical testing, manufacturing, and commercialization of new therapies and health technologies.
Medidata, founded in 1999 and headquartered in New York City with 16 offices across seven countries, provides cloud-based solutions used by 1,300 customers worldwide. These customers include pharmaceutical companies, biotechs, contract research organizations (CROs), and medical centers. Notably, Medidata's technology powered 13 of the top 15 drugs sold in 2018 and serves 18 of the top 25 pharmaceutical companies and nine of the top 10 CROs. The company reported a revenue of $636 million for its fiscal year ending December 31, 2018, and has 2,800 employees and contractors.
The acquisition was finalized on October 29, 2019, at which point Medidata ceased trading on NASDAQ. This strategic move is expected to enable Dassault Systèmes to lead the digital transformation of life sciences, particularly in personalized medicine and patient-centric experiences. Medidata will operate as a brand under Dassault Systèmes, powered by the 3DEXPERIENCE platform, making the life sciences industry the company's second-largest core business after transportation and mobility. This integration of Medidata's clinical trial expertise with Dassault Systèmes' 3DEXPERIENCE platform aims to connect research, development, manufacturing, clinical trials, and commercial deployment within the healthcare ecosystem.
