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 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 Buying Micros Systems For About $5.3B
Oracle Corp. (NYSE:ORCL) is planning to acquire MICROS Systems ( MCRS ) for approximately $5.0 billion. However, neither of the companies has confirmed the deal as yet. Shares of MICROS surged 14.9% ($8.62) to $66.33 following the news. Oracle Corporation (NYSE:ORCL) rose 1.16 percent to $42.81 Wednesday on volume of 10.31million shares. The intra-day range of the stock was $42.30 to $42.86. Oracle Corporation (NYSE:ORCL) has a market capitalization of $190.88billion.
After a similar deal between TripAdvisor and LaFourchette, and after the acquisition of OpenTable by Priceline, Oracle buys retail technology company Micros Systems for $5.3bn. The deal will need to be followed by a further round of big purchases if the US business software maker is to avoid coming out on the wrong side of the cloud computing revolution, according to a growing chorus of Wall Street analysts.
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