Oracle offers 75% discount on services to US government to modernize systems and cut costs.

Oracle is offering the U.S. government a 75% discount on its license-based technology services through November. This move is part of the Trump administration’s effort to modernize systems and cut costs. Shares fell 1.5% from their all-time high last Thursday, but are still up 40% this year.

The General Services Administration (GSA) praised the agreement, which includes discounts on Oracle’s advanced data management technology. CEO Safra Catz expressed excitement about updating the country’s technology with artificial intelligence through Oracle’s cloud. Acting GSA Administrator Stephen Ehikian called it a “landmark agreement” to acquire cutting-edge commercial technologies on a large scale.

This deal is part of the GSA’s OneGov program, establishing pricing based on the entire government’s volume. Oracle joins Google, Adobe, Salesforce, and Elastic in offering discounted tech pricing to the U.S. government. The goal is to modernize federal systems efficiently while saving taxpayer dollars.

Read more at Yahoo Finance: Oracle Stock Slips as Firm Gives Big Services Discount to US Government