Dassault Systèmes to Buy San Diego Software Firm
By CHAD BRAY
DealBook
New York Times
January 30, 2014, 5:23 am
LONDON – Dassault Systèmes of France said on Thursday that it had agreed to acquire the San Diego-based scientific software company Accelrys in an all-cash deal for about $750 million.
Dassault, which designs 3-D modeling software, said it intended to make a tender offer of $12.50 a share for the outstanding shares of Accelrys, 28 percent above the company’s closing price on Wednesday.
The deal is expected to expand Dassault’s offerings in the chemistry, biology and materials sectors.
Bernard Charlès, president and chief executive of Dassault, said the two companies “share the same passion for enabling scientific innovation.”
The board of Accelrys unanimously approved the transaction. The deal is expected to be completed in the second quarter of 2014 and is subject to a majority of Accelrys shares being tendered.
Dassault, which employs about 11,000 people, posted third-quarter revenue of 493.4 million euros, or about $671 million. The company is scheduled to report its fourth-quarter results next month.
Revenue for Accelrys was $40.9 million in the third quarter. The company says it employs more than 200 full-time Ph.D. scientists.
Foros advised Dassault, while Accelrys was advised by Morgan Stanley. The legal advisers were Cravath, Swaine & Moore for Dassault, and Paul Hastings for Accelrys.
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