Medidata Solutions acquires SHYFT Analytics for $195M in cash

|About: Medidata Solutions, Inc. (MDSO)|By:, SA News Editor

Medidata Solutions (NASDAQ:MDSO) acquires clinical development platform SHYFT Analytics for $195M in cash inclusive of Medidata’s 6% ownership in SHYFT.

The duo joined forces on the new Intelligent Platform for Life Sciences that offers to enhance “drug and device discovery, development and commercialization.”

Medidata expects the deal to close in Q2.

Medidata shares are flat premarket at $81.12.

Update: Medidata revises its FY18 outlook due to the acquisition. Revenue stays at $624M to $648M (consensus: $637.75M) but non-GAAP net income shifts to $90.5M to $97.5M (was: $98.5M to $106.5M).

Guidance was released on the 8 AM Eastern conference call with a replay available here.

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