Navigate this market better. Subscribe for FREE stock alerts and information.

Thursday, January 30, 2014

Dassault Systemes to purchase U.S. based Accelrys for $750 mln, (NYSE: SNY)

Dassault Systemes has agreed to purchase 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 programmes 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.

Sanofi SA, formerly Sanofi-Aventis, is a global and diversified healthcare company based in France. Shares of SNY fell by 0.97% or $-0.48/share to $48.92. In the past year, the shares have traded as low as $44.50 and as high as $55.94. On average, 1389740 shares of SNY exchange hands on a given day and today's volume is recorded at 1006676.