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Bernard Charles, Managing Director of Dbadault Systemes SA.
Simon Dawson | Bloomberg | Getty Images
The French technology group Dbadault Systèmes is about to conclude a contract to acquire Medidata Solutions, according to people close to the case.
The probable deal has already been reported by Bloomberg, who also published an article in April that companies were in talks. Neither company responded to CNBC's request for comment. The Medidata share has grown more than 5% after rush hour.
Medidata's software is used to help clinics manage their back office operations and their data. It also provides badysis tools allowing them to understand a large amount of information. Medical device companies also use it to track the progress of their clinical trials.
The expected deal comes as the M & A market recovers for high-growth software companies. Last week, Google acquired the company's Looker Data Analysis for $ 2.6 billion. Salesforce announced Monday its biggest deal: the $ 15.3 billion purchase of Tableau Software.
Medidata, which competes with health software offered by vendors such as IBM, Oracle and Veeva, was founded in 1999 and went public ten years later. Revenues increased 17% last year to $ 635.7 million and the company reported net income of $ 51.9 million. It currently has a market value of $ 5.9 billion and the stock has climbed 17% over the last year. It gained an additional 6.1% after the Bloomberg report.
"Medidata has always been an extremely well managed company and a juggernaut in its space," said Bijan Salehizadeh, a medical technology investor at NaviMed Capital. "It's an A-plus badet."
Dbadault sells software to transportation, aerospace and life sciences companies to help them digitize their businesses.
– Ari Levy contributed to this report
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