Oracle buying Micros Systems for about $5.3B

Oracle headquarters in Redwood Shores, California. (File) (Justin Sullivan, Getty Images)
Oracle headquarters in Redwood Shores, California. (File) (Justin Sullivan, Getty Images)
Set Text Size SmallSet Text Size MediumSet Text Size LargeSet Text Size X-Large
Share
Updated: 6/23 1:13 pm

REDWOOD SHORES, Calif. (AP) — Software maker Oracle is buying Micros Systems Inc., which provides software and hardware to the hospitality and retail industries, for approximately $5.3 billion, the company announced Monday.

Oracle Corp. said that it will pay $68 per Micros share, a three percent premium to the company's $65.77 Friday closing price. 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. The deal 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.

©2014 Associated Press. All rights reserved. This material may not be published, broadcast, rewritten, or redistributed.

Share
Gulfport
80° Clear Feels Like: 84° F
High: 90° F
Low: 75° F
Wind: Calm


Inergize Digital This site is hosted and managed by Inergize Digital.
Mobile advertising for this site is available on Local Ad Buy.
Persons with disabilities who need assistance with issues relating to the content of this station's FCC public inspection file should contact: WXXV TV Attn: Bobby Edwards 14351 Highway 49 Gulfport, MS 39503 Phone: 228-831-5200 Email: bedwards@wxxv25.com or Donna Ingram Phone: 228-831-5201 Email: dkgingram@wxxv25.com. To view our public file, visit the 'About WXXV' link at the top of this page. Questions or concerns relating to the accessibility of the FCC's online public file system should be directed to the FCC at 1-888-225-5322 or fccinfo@fcc.gov.

Copyright © 2014 WXXV-TV and Morris Networks of MS All Rights Reserved