Dassault Systemes Gets US Clearance for Medidata Acquisition, Sets New 2019 Targets
October 24 2019 - 2:03AM
Dow Jones News
By Olivia Bugault
Dassault Systemes SE (DSY.FR) said Thursday that the Committee
on Foreign Investment in the United States has approved its
proposed acquisition of Medidata Solutions Inc. (MDSO) and that it
has set new financial targets for 2019 due to the addition of the
U.S. medical-software maker in its account.
The French software maker said the CFIUS clearance was one of
the final conditions for the merger, which should be completed in
the coming days.
Dassault Systemes set new goals for its full-year and fourth
quarter due to the addition of Medidata. The company now expects
its 2019 non-IFRS revenue to come between 4.02 billion and 4.06
billion euros ($4.47 billion-$4.52 billion), while non-IFRS revenue
for its fourth quarter should range from EUR1.17 billion to EUR1.21
billion. Non-IFRS operating margin for 2019 should be around 32%,
it says, while earnings-per-share growth should be between 13% and
14% in 2019.
On an IFRS basis, revenue for its third quarter rose 14% to
EUR914.8 million from EUR804.5 million, Dassault said.
Dassault said Lockheed Martin Corp. (LMT) has selected its
3DExperience Platform to support digital-engineering initiatives,
but it didn't specify the financial details of the deal.
Write to Olivia Bugault at olivia.bugault@wsj.com
(END) Dow Jones Newswires
October 24, 2019 01:48 ET (05:48 GMT)
Copyright (c) 2019 Dow Jones & Company, Inc.
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