Oracle acquires MICROS Systems
Hospitality and retail solutions vendor expected to push Oracle into new sectors
Oracle today announced it has agreed to acquire hospitality and retail solutions specialist MICROS Systems, Inc for $68 per share, approximating to a transaction worth $5.3bn.
The addition of MICROS will push Oracle's offerings into new industries by combining MICROS' industry-specific applications with Oracle's generic core-business applications and cloud services. Fresh customer prospects for Oracle include hotels, food and beverage facilities and retailers.
MICROS' board has unanimously approved the transaction, which is expected to close in the second half of 2014, subject to stockholder and regulatory approvals and other standard closing conditions.
"Oracle has successfully helped customers across multiple industries harness the power of cloud, mobile, social, big data and the Internet of Things to transform their businesses," said Oracle president Mark Hurd. "We anticipate delivering compelling advantages to companies within the hospitality and retail industries with the acquisition of MICROS."
"MICROS has been focused on helping the world's leading brands in our target markets since we were founded in 1977, including running more than 330,000 sites across 180 countries today," said Peter Altabef, president and CEO, MICROS. "In combination with Oracle, we expect to help accelerate our customers' ability to innovate and differentiate their businesses by utilising Oracle's technologies, cloud solutions and scale. We are very excited about the great opportunities this will create for our customers and employees."
Oracle this week also announced the acquisition of collaboration solutions developer LiveLOOK in a bid to capture more of the customer service industry.