Oracle Will Acquire Micros Systems For $5.3 Billion

Oracle is nearing the acquisition of Micros Systems, a point-of-sale hardware and software creator. The acquisition will be Oracle's biggest since purchasing Sun Microsystems in 2010.(Photo : Peter Kaminski)

Oracle is nearing the acquisition of Micros Systems, a point-of-sale hardware and software creator. The acquisition will be Oracle's biggest since purchasing Sun Microsystems in 2010.

Oracle has announced that it has entered into an agreement with Micros Systems to purchase the latter for $5.3 billion. Micros will have a equity value of $5.3 billion with each common stock priced at $68.

Oracle's last major acquisition was in 2010, when the company purchased Sun Microsystems for $7.4 billion.

Micros Systems is a manufacturer of point-of sale hardware and software that are used in commercial establishments such as hotels and restaurants. The point-of-sale systems, which are connected to the Internet, would add to Oracle's cloud-based service offerings.

"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 Mark Hurd Oracle President. "We anticipate delivering compelling advantages to companies within the Hospitality and Retail industries with the acquisition of MICROS."

Oracle has lately been releasing its line of cloud-based products. The company has also been purchasing smaller companies that specialize in cloud-based services, including business-to-consumer marketing software creator Responsys Inc.

Oracle purchased Responsys $1.5 billion in a move that pits the company directly against rivals Microsoft and Salesforce, and at the same time adding more variety to Oracle's service offerings.

Responsys was seen as an ideal fit for the needs of Oracle to further their growth in cloud-based services, as the company addresses the demand of companies that are looking for a cloud-based solution to consolidate marketing initiatives into a cohesive strategy.

The acquisition of Micros Systems will fill in a similar need on the onset, expanding Oracle's offerings in the rapidly growing cloud-based services industry.

"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," said Micros president and CEO Peter Altabef.

It was reported last week that the two companies were in exclusive talks, which escalated rapidly into an acquisition deal for Oracle. Barring any last minute changes and delays, the deal is expected to be revealed in the morning of June 23.

Oracle recently received a victory in its ongoing copyright battle with Google, as an appeal reversed a previous decision to give Oracle copyright protection on its intellectual property.

Oracle filed a lawsuit against Google in 2010, with Oracle accusing Google of using parts of Java code APIs in the programming of its Android operating system.

"We conclude that a set of commands to instruct a computer to carry out desired operations may contain expression that is eligible for copyright protection," said Federal Circuit Judge Kathleen O'Malley.

Java, which was originally a Sun Microsystems product, was acquired by Oracle along with the company in 2010.

From:us.newshub.org

 

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