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Abstract:Oracle Corporation is an American multinational computer technology corporation headquartered in Austin, Texas. In 2020, Oracle was the second-largest software company in the world by revenue and market capitalization.
Oracle Corporation is an American multinational computer technology corporation headquartered in Austin, Texas. (Oracle was headquartered in Redwood Shores, California, until December 2020.) In 2020, Oracle was the second-largest software company in the world by revenue and market capitalization. It sells database software and technology (particularly its own brands), cloud engineered systems, and enterprise software products, such as Enterprise Resource Planning (ERP) software, Human Capital Management (HCM) software, Customer Relationship Management (CRM) software (AKA customer experience), Enterprise Performance Management (EPM) software, and Supply Chain Management (SCM) software.
In Friday premarket, Oracle stock (NYSE:ORCL) traded 4% lower on reports of the company pursuing its biggest acquisition yet to push deeper into healthcare. According to The Wall Street Journal, the enterprise software company could pay as much as $30 billion to buy Cerner (NASDAQ:CERN), an electronic-medical-records company that had revenue of $4.3 billion in the nine months ending September 30 and a market value of nearly $24 billion as of Thursday. Cerner stock soared 19% premarket.
As the Healthcare being a major part to consider already has a key presence in Oracles current revenue stream. The company offering technology to help insurers, care providers and public health systems parse data for better patient outcomes.
The procurement is considered to help Oracles pivot to the Cloud, a move the company was initially relatively slow to embrace. Its strategy has become more aggressive in the last year.
In a post-Covid world, healthcare has become a go-to industry for tech companies to tap new areas of growth. Microsoft (NASDAQ:MSFT) itself has struck a $16-billion deal to buy Nuance Communications (NASDAQ:NUAN), a provider of clinical speech recognition software, medical transcription and medical imaging. Microsoft MSFT.O is set to secure unconditional EU antitrust approval for its $16 billion bid for artificial intelligence and speech technology company Nuance Communications NUAN.O. While the deal is still pending waiting for approval.
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