By Lisa Kerner
Charlotte, N.C., March 2 - Cegedim SA said it entered into a definitive agreement to acquire Dendrite International, Inc. for $16.00 per share in cash.
Dendrite is valued at approximately $751 million, according to a news release. The company's board unanimously approved the deal and recommended that Dendrite shareholders vote in favor of the transaction, which is expected to close in the next few months.
"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," Cegedim founder and chief executive officer Jean-Claude Labrune said in the release.
"As a combined organization we can achieve an even higher quality of service and will be better able to serve our clients in our competitive global marketplace."
Paris-based Cegedim develops databases and software for pharmaceutical companies and health-care professionals.
Dendrite, located in Bedminster, N.J., offers sales and marketing products for the pharmaceutical industry.
| Acquirer: | Cegedim SA
|
| Target: | Dendrite International, Inc.
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| Transaction value: | $751 million
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| Payment per share: | $16.00
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| Announcement date: | March 2
|
| Expected closing: | Within the next few months
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| Stock price for target: | Nasdaq: DRTE; $12.79 on March 1
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