Dassault Systemes to acquire MatrixOne Inc.

Dassault Systemes to acquire MatrixOne Inc.

France based software company Dassault Systemes has said in a statement that they are planning to acquire loss-making U.S. software company MatrixOne Inc. The deal is worth around $408 million and it would be conducted in a cash only transaction.

The deal would see Dassault Systemes paying a hefty premium over MatrixOne’s Wednesday closing price. However, they are expecting to extend its offering in the fast-growing product lifecycle management software market by acquiring MatrixOne.

This software market is targeted at the high-tech, consumer products, and medical devices sectors. Dassault Systemes Chief Executive Bernard Charles said in a statement on this latest deal: “In my view our product portfolio is (now) quite complete. I do not see major holes.”

The deal would see Dassault paying around $7.25 per MatrixOne share, a 20.6 percent premium to Wednesday’s closing share price.