(WSJ) Oracle is closing its largest-ever $30 billion deal for healthcare information technology group Cerner as it makes inroads into the booming industry.
The deal for Cerner marks Oracle’s inroads into healthcare, with the company already offering various technologies in the sector.
The acquisition of Cerner is expected to cement Oracle’s cloud pursuits, which the target has been pursuing as it shifts from traditional software.
Oracle’s deal comes after Microsoft also announced a $16 billion deal for speech AI company Nuance in its forays into the healthcare industry.
Oracle is now seen to play catch with companies such as Amazon and Microsoft whose values exceed $1 trillion with strong cloud operations. The company is currently valued at around $280 billion, while Cerner has a market cap of about $23 billion.
Stocks react. CERN: NASDAQ is up +18.53% on premarket, ORCL: NYSE is down –3.12% on premarket.
