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.
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