Medidata Solutions, a provider of software-as-a-service solutions for clinical trials, has agreed to acquire SHYFT Analytics Inc. for total consideration of $195 million.
SHYFT Analytics is a cloud data analytics platform with solutions designed exclusively for the pharmaceutical and biotech industry. Medidata already owns a 6% stake in SHYFT.
The deal is subject to customary closing adjustments and is expected to close in the second quarter.
Medidata plans to fund the transaction with existing cash.
