Medidata said it will acquire SHYFT for $195 million in a deal designed to expand its reach in life sciences and clinical analytics.
In a statement, the company said it already owned a 6 percent stake in SHYFT.
Medidata combines CRM, research, and third party data to help pharmaceutical, biotech, and medical device companies commercialize and develop drug and product discoveries. SHYFT's analytics and data cloud weaves data sources together, provides visualizations and cleans and transforms data to provide insights.
Tarek Sherif, CEO of Medidata, said that the teams will be combined to bolster the company's Intelligent Platform for Life Sciences. The suite aims to streamline regulatory approval, minimize risk, and optimize therapies.
Medidata also updated its outlook to include SHYFT. The combined company will have full year revenue between $624 million to $648 million with non-GAAP operating income of $146 million to $154 million.
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