Late last year, just before Christmas, Oracle took a big step by announcing its $28 billion acquisition of electronic health records company Cerner, which quickly brought it to market. best corporate deal for 2021just for the wire.
The company announced today that it has closed the deal, effective tomorrow.
Ad was somewhat disappointing, full of corporate financial talk: “Oracle Corporation (NYSE: ORCL) has announced that the majority of its outstanding shares (“Shares”) of Cerner Corporation (Nasdaq: CERN) have been legally offered for sale, and that others the terms of the tender offer was granted or rejected. The deal will close on June 8, 2022,” the company said in a statement.
In other words, he got out of the control of the world’s regulators and paid the amount due. After the signing of contracts and the transfer of shares (or it will happen today by midnight), the deal is actually closed.
You probably remember that Microsoft paid nearly $20 billion for Nuance Communications in April 2021 – this deal closed in March. Seeing the same market potential as Microsoft, Oracle paid Serner a lot of money to plunge headlong into the healthcare market.
At the time the deal was announced, Holger Müller, an analyst at Constellation Research, said it would bring a lucrative market for Oracle’s cloud, which is why the company was willing to pay so much for it.
“This is a smart move on Oracle’s part. This further strengthens Oracle technology in healthcare and creates a large current and especially future workload for Oracle Cloud. Not to mention Oracle is investing in the largest and fastest growing vertical industry,” Mueller told me at the time.
Cerner certainly has the potential to do so, but it depends on how the two companies end up coming together and whether Oracle can take all that market potential and turn it into a viable business within Oracle. However, it turned out that the deal was concluded today at midnight.
Credit: techcrunch.com /