Latest News by Industry
• Acquisition would give Oracle access to Cerner’s trove of medical data
• EU said merged company would not have the ability to shut out rivals
US enterprise software giant Oracle Corp (NYSE: ORCL) said that it has secured all the required antitrust approvals for its proposed $28.3 billion acquisition of medical information technology services provider Cerner Corp (NASDAQ: CERN), including European Commission clearance.
“We expect this acquisition to be substantially accretive to Oracle’s earnings on a non-GAAP basis in fiscal year 2023,” Chief Executive Officer Safra Catz said on Wednesday in a press release.
“Healthcare is the world’s largest and most important vertical market—$3.8 trillion last year in the United States alone. We expect Cerner to be a huge growth engine for years to come.”
The acquisition, Oracle’s biggest ever, would give the software maker access to a trove of medical data and would increase the number of healthcare clients to its cloud platform.
The European Commission said it did not have any competition concerns about the deal as there are no overlaps between the companies.
Moreover, the antitrust agency said that the merged company would not have the ability to shut out rivals.
Picture Credit: CNET
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