Oracle Buys Micros Systems for $5.3 BillionBy: Josh Wolford - June 23, 2014
Oracle, no stranger to large acquisitions, has just announced a $5.3 billion buy of Micros Systems – a top provider of both hardware and software for the hospitality industry.
Oracle says that the acquisition will allow the two companies to “help hotels, food & beverage facilities, and retailers to accelerate innovation, transform their businesses, and delight customers with complete, open and integrated solutions.”
“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 Oracle President Mark Hurd. “We anticipate delivering compelling advantages to companies within the Hospitality and Retail industries with the acquisition of MICROS.”
Known for their big acquisitions, Oracle has made 11 such purchases in the past year-and-a-half. This $5.3 billion buy is their second-largest in recent history – the largest coming back in 2009 with a $7.4 billion takeover of Sun Microsystems.
“MICROS has been focused on helping the world’s leading brands in our target markets since we were founded in 1977, including running more than 330,000 sites across 180 countries today,” said Peter Altabef, President and CEO, MICROS. “In combination with Oracle, we expect to help accelerate our customers’ ability to innovate and differentiate their businesses by utilizing Oracle’s technologies, cloud solutions and scale. We are very excited about the great opportunities this will create for our customers and employees.”
The deal will close later this year.
Image via MICROS Systems, Facebook