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Enterprise software maker Oracle Corp on Monday announced the acquisition of electronic medical records company Cerner Corp for $ 28.3 billion, to strengthen its presence in the healthcare industry.
The deal is paid in cash to the tune of $ 95 per share, the largest acquisition ever made by Oracle.
Cerner is a company specializing in medical informatics. It posted revenue of $ 1.468 billion in the third quarter of 2021, up 7% from $ 1.369 billion in the third quarter of 2020 with EPS up 19%.
This acquisition would allow Oracle to develop its activities in the field of healthcare software management.
This agreement is the largest ever made by Oracle.
(With MAP)
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