French technology company Dassault Systemes has agreed to acquire Medidata Solutions in an all-cash deal worth $5.8 billion on an enterprise value basis.

Dassault said it was offering $92.25 per share for Medidata, a slight discount to Medidata Solutions' closing price of $94.75 on June 11.

"It's a logical evolution of the scope of what we do," Bernard Charles, chairman and CEO of Dassault Systemes, told CNBC's "Street Signs Europe" on Wednesday.

"Life science is going to go through an accelerated digitization of its own processes, basically. That's the motivation for Dassault Systemes to buy Medidata Solutions," Charles said.

Medidata's software is used to help clinics manage their back-office operations and their data, and it provides analytics tools so they can make sense of massive amounts of information. Medical device companies also use it to track the process of their clinical trials.

"Medidata has always been an extremely well-run company and a juggernaut in their space," said Bijan Salehizadeh, a medical technology investor at NaviMed Capital. "It's an A-plus asset."

The deal comes as the M&A market picks up for fast-growth software companies. Google acquired data analytics company Looker last week for $2.6 billion, and Salesforce followed on Monday with its biggest deal ever — the $15.3 billion purchase of Tableau Software.

Medidata, which competes with health software from vendors such as IBM, Oracle and Veeva, was founded in 1999 and went public 10 years later. Revenue increased 17% last year to $635.7 million and the company reported net income of $51.9 million. It currently has a market value of $5.9 billion, and the stock has climbed 17% in the past year. It gained an additional 6% after hours on the deal news.