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France's Dassault buying Accelrys for $750M

France's Dassault buying fellow software company Accelrys for about $750 million

Associated Press

SAN DIEGO (AP) -- Dassault Systemes, a French 3-D design software company, is buying San Diego-based Accelrys for about $750 million to gain access to its software for managing scientific data.

France's Dassault Systemes will pay $12.50 for each Accelrys Inc. share. That's 29 percent above Accelrys' Wednesday closing price of $9.72.

Shares of Accelrys jumped $2.80, or 29 percent, to $12.52 in afternoon trading. Earlier in the session the shares touched $12.56, the stock's highest point since May 2004.

Accelrys' board unanimously approved the deal, which is expected to close in the second quarter subject to Accelrys shareholders selling a majority of the company's stock in a tender offer that Dassault said it will begin soon.