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Strategies & Market Trends : Speculating in Takeover Targets
ULBI 8.300+2.1%3:59 PM EDT
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To: richardred who wrote (3579)1/30/2014 9:36:54 AM
From: richardred1 Recommendation

Recommended By
The Ox

   of 7176
 
Looks like I sold ACCL three weeks to early.
Message 28868301

Dassault Systemes to buy U.S. based Accelrys for $750 million
PARIS (Reuters) - Dassault Systemes has agreed to buy U.S. scientific software firm Accelrys in an all-cash deal valuing the San-Diego company at about $750 million, as it seeks to expand its product portfolio, the software company said on Thursday.

The French maker of computer-assisted design programs said it would self-finance the offer for Accelrys, which provides scientific software for the energy, aerospace and industrial goods sectors, at a price of $12.50 per share.

"Our ambition is to offer solutions in all areas of bio sciences where we want to be leader," Dassault Systemes CEO Bernard Charles told Reuters by phone.

The board of Accelrys, whose clients include Sanofi, L'Oreal and Unilever has unanimously approved the transaction which is expected to be completed during the second quarter of 2014, Dassault said.

Charles would not discuss the financial impact of the deal as Dassault Systemes unveils its full-year earnings on February 6.

According to Accelrys website, the U.S. group had revenue of $122.051 million and an operating loss of $22.8 million in the first nine months of 2013.

Recent Dassault Systemes' acquisitions have included U.S.-based software developer Apriso and Realtime Technology AG, a provider of 3D visualization software.

finance.yahoo.com
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