Oracle is buying electronic medical records firm Cerner in a deal valued at $28.3 billion, one of the software company’s biggest acquisitions ever and one of the largest takeovers this year.
The all-cash deal values Cerner at $95 a share and was announced Monday just three days after rumors circulated that Oracle was in talks to buy the health IT company.
The acquisition will be immediately accretive to Oracle's earnings on a non-GAAP basis in the first full fiscal year after closing—and will contribute substantially more to earnings in the second fiscal year, according to Safra Catz, Oracle's Chief Executive Officer.
Oracle also plans to expand Cerner's business into more international markets.