Dassault Eyes U.S. Acquisitions Including Medidata

(Bloomberg) -- French technology company Dassault Systemes SE is seeking U.S. acquisitions and considering targets including Medidata Solutions Inc., a software firm focused on clinical trials, according to people familiar with the matter. Medidata’s shares rose.

Dassault is discussing the potential purchase of Medidata to bolster its life science unit, said the people, who asked not to be identified because the matter isn’t public. Deliberations are preliminary and the French software maker may decide against proceeding with a takeover or opt for a different company, they said. Medidata could also draw interest from other suitors, one of the people said.

A representative for Dassault declined to comment while Medidata wasn’t able to comment.

Medidata rose 10.3 percent at 10:29 a.m. to $87.00, valuing the New York-based company at $5.4 billion. Its shares are up more than 29 percent this year. The firm provides a cloud-based subscription service that helps medical device, diagnostic and pharmaceutical companies manage and analyze clinical trials.

Dassault has a market value of about 35.6 billion euros ($40 billion). The Vélizy-Villacoublay, France-based company offers software and services for industries ranging from aerospace and defense to consumer goods and life sciences. It’s scheduled to discuss first-quarter earnings on April 24.

©2019 Bloomberg L.P.