Oracle announces purchase of Micros Systems

Acquisition adds innovative hospitality and retail technologies to Oracle portfolio, expanding business into more industries
 
Oracle announced that it has entered into an agreement to acquire Micros Systems, a provider of integrated software and hardware solutions for the hospitality and retail industries, for US$ 68.00 a share in cash. The transaction is valued at approximately US$ 5.3 billion or US$ 4.6 billion net of Micros' available cash.
 
Mobile and social technologies, cloud computing, Big Data and the Internet of Things are affecting all sectors of the economy and encouraging companies to modernize to compete effectively. The addition of Micros expands Oracle's offerings as it will combine Micros' industry-specific applications, technologies and Oracle's cloud product portfolio. Together, they will help hotels, food and beverage companies and retailers accelerate innovation, transform businesses with open, end-to-end and integrated solutions.
 
Micros' Board of Directors unanimously approved the transaction, which is expected to close in the second half of 2014. “Oracle is already helping customers from various industries to harness the full power of mobile and social technologies, cloud computing, Big Data and the Internet. of Things to transform the business,” said Mark Hurd, Oracle's worldwide president. “We believe that we will offer significant advantages to organizations in the hospitality and retail sectors with the acquisition of Micros”.