Oracle has been big in the news this week with its biggest acquisition of $28.3 Billion. The company has acquired the electronic healthcare records company, Cerner via an all-cash tender offer for $95.00 per share.
The company stated in a press release,
“Oracle Corporation and Cerner Corporation today jointly announced an agreement for Oracle to acquire Cerner through an all-cash tender offer for $95.00 per share, or approximately $28.3 billion in equity value”
According to an analyst at Constellation Research, Holger Mueller, the deal is huge for Oracle,
“It’s a smart move by Oracle. It cements Oracle technology even deeper into healthcare and brings a lot of current and especially future workload to Oracle Cloud. Not to mention that Oracle is buying into the largest and fastest-growing vertical industry”
Oracle’s CEO Safra Catz also commented on the occasion,
“Cerner will be a huge additional revenue growth engine for years to come as we expand its business into many more countries throughout the world. That’s exactly the growth strategy we adopted when we bought NetSuite—except the Cerner revenue opportunity is even larger”
The acquisition will give both the companies an opportunity to expand cloud, AI, and machine learning applications for Cerner’s healthcare clients. Oracle also says its goal is to deliver “zero unplanned downtime in the medical environment”.
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