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• Oracle-Cerner deal will soon gain unconditional EU antitrust clearance
• Tech giants are ramping up investments in healthcare sector, spurred by demand for cloud-based solutions during the pandemic
Enterprise software giant Oracle Corp (NYSE: ORCL) will soon receive unconditional EU antitrust clearance for its $28.3 billion acquisition of US medical information technology services provider Cerner Corp (NASDAQ: CERN).
Reuters reported the news on Tuesday, citing three people familiar with the matter.
Oracle announced the all-cash acquisition deal — its biggest ever — in December last year. The software maker said it would pay Cerner shareholders $95 cash per share.
The purchase will give the Austin, Texas-based giant access to Cerner’s clinical trove of data which already uses Oracle Database and would attract more healthcare clients to its cloud platform.
Cerner’s data can help Oracle train and improve the software maker’s artificial intelligence-based cloud services.
Tech giants like Microsoft Corp (NASDAQ: MSFT) have also ramped up investments in the healthcare sector, spurred by demand for cloud-based solutions during the pandemic.
Picture Credit: The Verge
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