Oracle Corp. announced today that it will acquire retail and hospitality software provider MICROS for $5.3 billion. The deal is expected to close by the end of 2014.
MICROS is valued at $68 a share, a slight bump from the company’s closing price of $65.77 a share on Friday, June 20, according to reports from The New York Times.
The news of the MICROS transaction comes after Oracle completed a series of acquisitions to help broaden its retail offerings. Recent purchases include Responsys, BlueKai and most recently, LiveLOOK, which was announced on June 20, 2014.
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When the MICROS purchase is complete, Oracle will be poised to expand further into the POS space, and heighten its presence in the restaurant and hospitality industries. Combining MICROS industry-specific applications with Oracle’s business applications, technologies and cloud portfolio, the new entity will be able to help hotels, retailers, and food and beverage companies better meet and exceed customer expectations. MICROS solutions currently are in place at 330,000 sites in 180 countries.
“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 Mark Hurd, President of Oracle, in a statement. “We anticipate delivering compelling advantages to companies within the hospitality and retail industries with the acquisition of MICROS.”
