Medidata, which calls itself a Unified Life Science Platform, agreed yesterday to be acquired by French technology company Dassault for $5.8 billion in cash, 2% less than its closing price the preceding Friday.
New York-based Medidata, founded in 1999 and specializing in data and processes related to clinical trials, has an office in Conshohocken dating from an acquisition with some 100 employees, per LinkedIn. There is stepped up competition as larger participants enter the market. Medidata revenue increased 17% last year to $635.7 million while it reported net income of $51.9 million.
Other larger entrants in the market include Oracle, Veeva Systems, CRF Bracket (just renamed Signant Health), BioClinica, and IQVIA , the result of the merger between IMS Health and Quintiles.
Dassault had revenue of $3.5 billion euros in 2018. It acquired Quintiq, a supply chain software provider based in Radnor and the Netherlands, for $336 milion in 2014. Rumors about Dassault’s interest in Medidata date back to at least April.