American multinational computer technology firm Oracle Corp. is set to acquire electronic medical records firm Cerner Corp. for about $95 per share, the WSJ reported.
- The deal is expected to be done in full cash and is set to be announced later on Monday. This would be the biggest deal for Oracle, valued at around $260 billion.
- Oracle transferred its headquarters to Austin, Texas last year, after years in Silicon Valley. Its shares dropped over 6% on Friday after reports regarding the deal.
- For its part, Cerner establishes software that boosts electronic medical records and analyzes healthcare data of hospitals and doctors. ORCL is down 2.64%.