Oracle (NYSE: ORCL) is in discussions to acquire Cerner (Nasdaq: CERN) in a transaction that could be valued at approximately $30 billion, The Wall Street Journal reported Thursday.
WSJ cited sources that say both parties could reach an agreement soon.
The potential acquisition could help Oracle, which has a market value of more than $280 billion, further expand its footprint in health care and cloud computing markets.
Established in 1979, Kansas City, Missouri-based Cerner designs and develops software used for storing and analyzing medical records and other health care information and has a market value of about $23 billion.
Austin, Texas-based Oracle, which was founded in 1977, has been providing technology to public health systems, health insurers and health providers to help them analyze data and improve patient outcomes. Larry Ellison, co-founder, chairman and chief technology officer of Oracle, owns approximately 42 percent of the enterprise software company’s shares.