Medidata To Acquire SHYFT Analytics For $195 Mln - Quick Facts

(RTTNews) - Medidata (MDSO) announced a definitive agreement to acquire SHYFT Analytics for a total consideration of $195 million, subject to customary closing adjustments, inclusive of Medidata's 6% ownership in SHYFT's business, and funded with existing cash on Medidata's balance sheet. The acquisition is expected to close in the second quarter of 2018.

SHYFT Analytics is the leading cloud data analytics platform for life sciences with solutions designed exclusively for the pharmaceutical and biotech industry. SHYFT is headquartered in Boston with offices in San Francisco and New York City.

Medidata said the company will provide updated 2018 guidance to incorporate deal-related costs, assumption of ongoing operating expenses of SHYFT, and write-down of acquired deferred revenue as a result of purchase accounting.