Oracle Buying Micros Systems for About $5.3B

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 $2.21, or 3.4 percent, to $67.98 in Monday trading.

Oracle said the acquisition will extend its offerings by combining Micros’s 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 28 cents to $41.10 Monday.

Micros’s 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.

This article appeared in print in the June 24th, 2014 edition of Hamodia.