Dassault Systemes CEO Bernard Charles. Photo: Vincent Isore/IP3/Getty Images

French industrial software and tech company Dassault Systemes is scooping up New York-based health data provider Medidata in a deal that is valued at $5.8 billion USD.

Go on…: Medidata notched $52 million USD in profit last year on $636 million USD of revenue. Dassault is betting big that more pharmaceutical and med devices companies will leverage Medidata’s software to help their products clear clinical trials faster.

Notable Quotes: “Today marks a significant milestone for the Life Sciences industry and the value of the virtual world to address the complexity of developing personalized medicine and patient-centric experiences. Multidiscipline scientific innovation and industrial performance call for a platform approach connecting the dots between people, ideas and data.” -Bernard Charlès, Vice Chairman and CEO, Dassault Systèmes.