Oracle buying Micros Systems for about $5.3B
REDWOOD SHORES, Calif. - Software maker Oracle is buying Micros Systems Inc., which provides software and hardware to the hospitality and retail industries, for about $5.3 billion.
Oracle Corp. said Monday that it will pay $68 per Micros share, a 3 percent premium to the company's $65.77 Friday closing price.
Shares of Micros gained $1.43, or 2.2 percent, to $67.20 in premarket trading Monday.
Oracle said the acquisition will extend its offerings by combining Micros' industry-specific applications with its business applications, technologies and cloud portfolio.
Oracle expects the deal to immediately add to its adjusted earnings. Its stock climbed 18 cents to $41 before the market opened.
Micros' board unanimously approved the transaction, which is expected to close in the second half of the year.
Oracle is based in Redwood Shores, California. Micros Systems is headquartered in Columbia, Md.
Last week Oracle reported fourth-quarter results that missed Wall Street's expectations, hurt in part by the devaluation of Venezuela's currency.
Please Log In to add a comment.
Best of TechWire Insider
- Crowdfunding bill moves - again - as part of different legislation
- AT&T already seeking permits for rollout of ultrafast network
- Latest stats show institutional venture capital in N.C. becoming a joke
- With cities on board, N.C. Next Generation Network is rolling toward first big deployment target
- Is IBM-Apple deal a slap in the face for Lenovo?
- A rare look into economic recruitment, requirements: Cary's disappearing 1,237 jobs document
- N.C. Senate committee to consider crowdfunding bill
- NCTA renames its '21 Awards,' to honor winners with 'Beacon'
- Vivek Wadhwa's book 'Innovating Women' hits markets Sept. 2
- Capital watch: Crowdfunding bill in a 'mess;' patent troll bill advancing