Oracle Corporation is all set to acquire MICROS System, a provider of information technology solutions for hospitality and retails industries in a $5.3 billion deal. This deal by Oracle Corp. will be the biggest deal since their acquisition of Sun Microsystems Inc. in the year 2010. MICROS Systems provides enterprise-wide applications, services and hardware for the hospitality and retail industries.
MICROS Systems provides solutions which are utilized in hotels, casinos, table and quick service restaurants, retail, leisure and entertainment, fuel and convenience, cruise and travel operations. According to the agreement between Oracle and MICROS, MICROS stockholders will receive $68 for each share of common stock they hold. Oracle along with MICROS will not only help hotels, food and beverage facilities, and retailers improve their businesses, but will also provide complete, open and integrated solutions to customers.
“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.”
“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.”
With $5.3 billion, this seems to be the biggest acquisition of the year so far.
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