Shares of Cerner Corp (NASDAQ:CERN) gained momentum on a potential takeover by Oracle Corp (NYSE:ORCL), Bloomberg reports.
- The possible acquisition of the medical-records company marked the software maker's push into health care.
- Cerner, headed by former Alphabet Inc's (NASDAQ: GOOG) (NASDAQ: GOOGL) Google Health's David Feinberg generated $5.51 billion in revenue during 2020, and its sales will likely rise by 5% to $5.8 billion in 2021.
- Cerner competes with Epic Systems Corp and Allscripts Healthcare Solutions Inc (NASDAQ:MDRX).
- Cerner could serve as an attractive target for Oracle, the second-biggest software maker by revenue.
- While Oracle has struggled to gain ground in the cloud-computing business, trailing far behind Amazon.com Inc (NASDAQ:AMZN) and Microsoft Corp (NASDAQ:MSFT), a deal for Cerner would give Oracle a massive foothold in the health industry.
- Price Action: CERN shares traded higher by 19.1% at $94.71 in the premarket session on the last check Friday.
