Why Accelrys (ACCL) Is Soaring to a Nine-Year High Today

NEW YORK (TheStreet) -- Accelrys  (ACCL) was soaring nearly 30% to $12.55, its highest point in nearly ten years, on Thursday after news broke that Dassault Systemes would buy the software company for approximately $750 million.

Dassault, a software company based in France that designs programs with the aid of computers, announced that it would purchase the San Diego-based Accelrys for $12.50 a share and would make an all-cash tender offer. Accelrys' board has unanimously approved the merger, according to Dassault's statement.

Accelrys offers scientific software for aerospace, energy and industrial sectors.

ACCL Chart

ACCL data by YCharts

More from Markets

Dow Logs Eighth Straight Drop as Stocks Slump

Dow Logs Eighth Straight Drop as Stocks Slump

This Is What's Hot Thursday - Stocks Slide, Intel's CEO Woes & Major Movers

This Is What's Hot Thursday - Stocks Slide, Intel's CEO Woes & Major Movers

U.S. Banks Pass Fed 'Stress Test' With Room for Dividends, Buybacks

U.S. Banks Pass Fed 'Stress Test' With Room for Dividends, Buybacks

U.S. Drillers at Mercy of Iran, Saudi Production Spat as OPEC Meeting Begins

U.S. Drillers at Mercy of Iran, Saudi Production Spat as OPEC Meeting Begins

Comcast's Brian Roberts vs. Disney's Bob Iger: Which Titan Will Nab Fox?

Comcast's Brian Roberts vs. Disney's Bob Iger: Which Titan Will Nab Fox?