M&A · Tech · Services-Computer Integrated Systems Design
Altaris to acquire Simulations Plus, Inc.
Announced Jun 16, 2026 · Closed Oct 6, 2026
Deal value$375MEV $348M
Premium—To unaffected price
EV / Adj. EBITDA—4.3x EV / Revenue
ConsiderationAll cash$18.50 per share
Transaction
- Acquirer
- Altaris
- Target
- Simulations Plus, Inc. (SLP)
- Buyer type
- Strategic
- Offer price per share
- $18.50
- Enterprise value
- $348M
- Status
- Closed Oct 6, 2026
Deal protections
- Break fee (target pays)
- $13.0M · 3.5%
- Reverse fee (buyer pays)
- $26.0M · 6.9%
- Go-shop
- No-shop
- Financing
- Committed · Morgan Stanley
Advisors
- To the acquirer
- Truist Securities, JPMorgan
- To the target
- Morgan Stanley
- Morgan Stanley fee
- $11.0M
Sector context · Tech
- Comparable deals
- 67 in the prior 24 months
- Premium
- Sector median 39.0%
- EV / Adj. EBITDA
- Sector median 15.4x
- Break fee
- 3.5% vs. 3.0% sector median
Timeline
- AnnouncedJun 16, 2026
- Proxy filedJul 9, 2026
- Definitive proxyJul 22, 2026
- Shareholder voteAug 27, 2026
- ClosedOct 6, 2026
Valuation · fairness opinions
Precedent transactions$13.20$42.00
Precedent transactions$11.09$21.01
Analyst price targets$14.50$28.10
Precedent transactions$18.05$27.30
Offer $18.50
Implied value per Simulations Plus, Inc. share by analysis, from Morgan Stanley · DCF discount rate 9.4%–11.4%.