Simulations Plus Finalizes $376.8 Million Acquisition by Altaris

Key numbers

Deal value	$377M
Share of market cap	100.7%
Share of annual revenue	475.9%

Key highlights

• Total transaction valued at approximately $376.8 million in cash consideration
• Shareholders received $18.50 per share as the company delists from the Nasdaq
• Funding secured through Altaris equity, debt financing, and internal cash reserves
• Strategic combination with Chemical Computing Group to create integrated R&D platform
• Simulations Plus will continue operating under its own brand as a private entity

What Is the Deal?

Altaris, LLC, an investment firm focused on healthcare, completed its acquisition of Simulations Plus, Inc. through its affiliates SP Evolution HoldCo II and Merger Sub. The transaction, first announced in June 2026, closed on October 6, 2026. As part of the merger, Simulations Plus shareholders were entitled to receive $18.50 per share in cash. Following the closing, Simulations Plus transitioned to a private company, ending its tenure on the Nasdaq. The integration plan involves combining the company with Chemical Computing Group, another Altaris portfolio entity, to form a specialized provider of molecular modeling and drug discovery software solutions.

Up 0.4% over the last month ($18.42 on 8 Sep → $18.50 on 5 Oct). Daily closing prices. Source: Yahoo Finance.

Show the prices

8 Sep	$18.42
9 Sep	$18.42
10 Sep	$18.42
11 Sep	$18.42
14 Sep	$18.42
15 Sep	$18.41
16 Sep	$18.43
17 Sep	$18.44
18 Sep	$18.44
21 Sep	$18.43
22 Sep	$18.41
23 Sep	$18.42
24 Sep	$18.46
25 Sep	$18.46
28 Sep	$18.48
29 Sep	$18.48
30 Sep	$18.43
1 Oct	$18.49
2 Oct	$18.50
5 Oct	$18.50

Deal Structure & Terms

• Transaction consideration consisted of $18.50 per share in cash for all issued and outstanding common stock.
• Total transaction value reached approximately $376.8 million including the settlement of equity awards.
• Funding was secured through a combination of Altaris-affiliated equity financing and third-party debt.
• Internal cash reserves from the Simulations Plus balance sheet were utilized to support the aggregate merger consideration.
• Outstanding stock options were cancelled and converted into cash payments based on the merger consideration spread.

Strategic Rationale

The merger aims to create a broader platform spanning the entire pharmaceutical research and development lifecycle. By combining Simulations Plus biosimulation and model-informed drug development tools with CCG molecular modeling software, the new entity intends to offer a comprehensive suite for drug discovery and simulation. This consolidation is designed to accelerate innovation and expand the technological capabilities available to biopharmaceutical clients. Leadership indicates that the combined organization will leverage complementary scientific expertise to improve the efficiency and success rates of drug development programs globally while maintaining the individual brand identity of Simulations Plus.

Business Overview

Simulations Plus provides model-informed and AI-accelerated drug development software and consulting services. Its core offerings focus on accelerating the discovery, development, and commercialization of pharmaceuticals through science-based technologies. The company maintained a services backlog of $23.3 million as of May 31, 2026, and projected fiscal year 2026 revenues between $79 million and $82 million. Its counterpart in the merger, Chemical Computing Group, specializes in drug discovery software, serving a similar biopharmaceutical client base. The combined firm will continue to operate the Simulations Plus brand within the healthcare-focused investment portfolio of Altaris.

Industry Landscape

The healthcare information services sector is experiencing increased M&A activity as investment firms seek to consolidate specialized software providers within the drug development pipeline. This transaction reflects a broader trend of private equity involvement in the biosimulation space, where AI-driven technologies are becoming central to pharmaceutical research efficiency. By moving Simulations Plus into a private portfolio alongside CCG, Altaris is positioning the combined entity to compete more effectively against larger integrated CROs and software providers. This move aligns with the industry's shift toward multi-disciplinary platforms that integrate molecular modeling with clinical-stage simulation tools to reduce drug failure rates.

Management commentary

“Our mission has always been to help our customers accelerate the discovery, development, and commercialization of innovative therapies through advanced modeling, simulation, and AI-driven technologies.”

“Simulations Plus has established itself as a trusted leader in biosimulation and model-informed drug development, supported by its science, differentiated technology, and deep customer relationships.”

Simulations Plus, Inc. · financial snapshot

Share price	$18.50
Market cap	$374M
Revenue (annual)	$79M
P/E (TTM)	46.2×
1-month price change	+0.38%
Sector	HealthcareHealth Information Services

Reference market data from a third-party provider, as of the story. Not a valuation or a recommendation.