Oracle to acquire MICROS systems by end of this year
On June 23, 2014, Oracle Corporation announced that it is buying MICROS systems for $68 per share in cash for the total value of approximately $5.3 billion. This is nearly 18 percent above where MICROS Systems shares were trading before. MICROS systems manufactures and sells computer software and hardware, and services of the restaurant point of sale, specialty retail markets, hotel services, hospitality services and other similar kind of markets.MICROS systems also have property manage systems called OPERA which has been used in many large hotel chains, Resorts.
The MICROS big deal will give it full control of major provider of Internet-connected cash registers. MICROS confirmed as its products are used on 330,000 sites in nearly 180 countries. In the last 6 months alone Oracle has announced 11 takeovers as one of the most acquisitive companies in the world. But MICROS systems represent its bigger takeover since its purchase of Sun Micro systems.
Oracle has successfully done all the transactions with all the customers across multiple industries like cloud, big data, mobile, social, Internet to transform their business. This announcement gives Oracle a booster for its slower earnings growth. Buying MICRO systems, Oracle is expecting to add the company’s growth immediately. This deal is expected to result by end of this year.
Oracle to acquire MICROS systems by end of this year Reviewed by Praveen P on Tuesday, July 01, 2014 Rating: