Oracle to buy medical records company Cerner in its biggest acquisition ever

3 yıl önce

A sign is posted in front of Oracle headquarters on December 09, 2021 in Redwood Shores, California.

Justin Sullivan | Getty Images

Enterprise software giant Oracle will buy electronic medical records company Cerner for $95 per share, or approximatelyÂ $28.3 billionÂ in equity value.

The deal could help Oracle boost its presence in healthcare by bringing troves of health data to its cloud services.

Oracle shares were down more than 2% Monday morning after the companies announced the deal. Shares fell 6% Friday after The Wall Street Journal first reported Oracle would buy Cerner.

The massive acquisition is the biggest ever for Oracle, one of the largest software providers. The company, founded in 1977, had a market cap around $264 billion as of early Monday morning.

It comes amid a surge in global mergers and acquisition activity. M&AÂ topped $5 trillion for the first time ever in 2021, led by technology and healthcare, according to a report cited by Reuters.

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