Oracle Corporation is acquiring a supplier of health information technology services to the tune of $28.3 billion.
The Austin-based IT company’s acquisition of Cerner Corporation, based in Kansas City, is expected to close in 2022. Oracle CEO Safra Catz noted that having Cerner onboard means an added channel for a potentially huge increase in revenue in the future.
“Oracle Corporation and Cerner Corporation today jointly announced an agreement for Oracle to acquire Cerner through an all-cash tender offer for $95 per share, or approximately $28.3 billion in equity value,” the company said in a press release.
Constellation Research, Inc., analyst Holger Mueller noted that this is the biggest deal in Oracle history, according to Tech Crunch.
“It’s a smart move by Oracle," Mueller told Tech Crunch. "It cements Oracle technology even deeper into health care 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."
Notably, Microsoft made a similar deal earlier this year.
