Topic: How To Invest

Spinoffs & Takeovers Hotline – Friday, October 7, 2022

Article Excerpt

ORACLE CORPORATION, $63.29, symbol ORCL on Nasdaq, is one of the world’s largest software providers. It started in database software but has since branched out to enterprise resource planning, human capital management, customer relationship management, and more. The company sells to 430,000 customers in 175 countries. Oracle has spent approximately $80 billion on acquisitions since its founding in 1977. Most recently, in June 2022, the company completed its largest acquisition to date with the purchase of Cerner Corporation (symbol CERN on Nasdaq) for $28.5 billion. Cerner specializes in digital information technology that hospitals and healthcare systems use to deliver better healthcare to patients and communities. The company had annual revenue of over $5.8 billion in 2021. Oracle expects Cerner to contribute to its earnings within 12 months of the acquisition closing. It expects a significant boost in earnings from the Cerner purchase in the second year and beyond. In the three months ended August 31, 2022, Oracle’s revenue increased 17.7%, to $11.45 billion from…