Oracle Corporation and Cerner Corp. have agreed to a deal where the company will acquire the Kansas City-based digital health giant in an all-cash deal for $95 per share, reports Healthcare IT News.
The acquisition of Cerner, founded in 1979, is the biggest-ever for Oracle. The announcement confirms news reports last week that a deal was imminent.
The acquisition will be accretive to Oracle’s earnings on a non-GAAP basis in the first full fiscal year after closing, and the database giant sees Cerner as “a huge additional revenue growth engine for years to come as we expand its business into many more countries throughout the world,” said Oracle CEO Safra Catz.
Cerner’s shares were up about 1% on Monday morning on the news, while Oracle’s were down more than 3%. Read more.
