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Oracle buying Micros Systems for about $5.3 billion

Published June 23, 2014 2:58 pm

Software • Micros Systems' products service the hospitality and retail industries.
This is an archived article that was published on sltrib.com in 2014, and information in the article may be outdated. It is provided only for personal research purposes and may not be reprinted.

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, Maryland.

Last week Oracle reported fourth-quarter results that missed Wall Street's expectations, hurt in part by the devaluation of Venezuela's currency.

 

 

 

 

 

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