September 28, 2017 / 5:27 AM / a year ago

France's Dassault Systemes to buy Exa Corp in $400 million deal

PARIS, Sept 28 (Reuters) - French software company Dassault Systemes has agreed to buy U.S. peer Exa Corp in a deal valued at about $400 million, which Dassault said would boost its range of products for clients.

Exa said Dassault's offer valued it at about $400 million, or $24.25 per share - a premium of about 43 percent compared to Exa's closing stock price of about $17 on Wednesday.

"With Exa's valuable application knowledge in transportation and mobility and other industry verticals, we will accelerate our delivery of industry solution experiences to benefit our existing and future customers," Dassault Systemes Vice Chairman and Chief Executive Bernard Charles said in a statement. (Reporting by Sudip Kar-Gupta; Editing by Amrutha Gayathri)

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