Oracle has entered into an agreement to acquire Micros Systems for US$5.3bn in a move that will give it an edge in the increasingly cloud-driven hospitality and retail sectors.
Oracle will pay US$68 per share in cash for the company.
The move will add impetus to Oracle’s edge in areas like cloud, mobile, big data and the internet of things.
The acquisition was unanimously approved by the board of directors of Micros and the transaction is expected to close in the second half of 2014.
“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.”
The acquisition of Micros is the largest acquisition by Oracle since it acquired Sun Microsystems in 2009 for US$5.9bn.
It is understood that Oracle came close to acquiring Micros Systems six years ago but the deal fell through at the last minute.
Oracle has spent US$50bn acquiring 100 companies in the past decade.
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