Cegedim, French maker of software for the life sciences industry, will spend $751 million for Dendrite International to expand the reach of its services into the U.S. and Asia-Pacific region.
The offering of $16 per share represents a 25% premium over Dendrite’s closing price the day before the proposal. Dendrite opened trading at $15.61.
Cegedim expects the combined company to have estimated pro forma annual revenues of $1.1 billion and operate in more than 75 countries across Europe, the Americas, and Asia-Pacific.
"We are very excited to join forces with Dendrite's talented team to create a truly global business with increased international reach, a broader scope of product offerings, and the strength to invest in the development of innovative technologies," remarks Jean-Claude Labrune, founder, chairman, and CEO of Cegedim.