Oracle to Acquire Micros Systems for $5.3 Billion

Oracle acquires industry peer Micros Systems for $5.3 billion. The American company announced this on Monday. The acquisition is expected to be completed later this year.

Micros was founded in 1977 and supplies hardware, software and services such as POS systems – extensive computer-controlled POS systems – for restaurants and hotels, among others. In a press release, CEO Peter Altabef said the company is active in 180 countries and also operates more than 330,000 sites for customers.

With the acquisition, Oracle wants to strengthen its position in the hospitality and retail industry. Oracle is putting 5.3 billion dollars on the table for the acquisition, which is approximately 3.9 billion euros. The acquisition has already been approved by the Micros board.

The former Micros will function as a separate division within Oracle, in order to better serve existing and new customers. This division will also include more than 18,000 Oracle employees, who have an R&D budget of more than half a billion dollars.