Why Shares of Exa Corp. Are Surging Today

Shares of simulation software provider Exa Corp. (NASDAQ: EXA) soared on Thursday after the company announced that it had agreed to be acquired by Dassault Systemes (NASDAQOTH: DASTY). As of 12:11 p.m. EDT, Exa stock was up 42.9%, while shares of Dassault were flat.

Dassault, a product development software company headquartered in Paris, France, and Boston, Massachusetts, has agreed to buy Exa Corp. for about $400 million, or $24.25 per share. Dassault will commence a tender offer within the next 10 business days to acquire all outstanding shares of Exa Corp., and the transaction is expected to close during the fourth quarter of 2017.

Exa's aerodynamic optimization solution. Image source: Exa Corp.

Source: Fool.com