Oracle acquires Micros
ChainStoreAge.com - Jun 25th 2014, 11:24
California – Oracle Corp. has acquired Micros Systems, a provider of integrated retail and hospitality enterprise solutions, for $5.3 billion. This figure is 27-times Micros’ current earnings.
Micros offers on-premise and hosted cloud implementations of front- and back-office applications. Retail solutions include: POS, e-commerce, CRM, merchandise planning, and loss prevention.
On the retail side, this purchase provides Oracle with a leading position in the POS marketplace. Micros is also a leading provider of mobile POS solutions for the specialty retail and table service restaurant verticals. Other areas where Micros offers Oracle built-in strength include loss prevention and hosted business intelligence.
Micros' management and employees will form a dedicated business within Oracle, and until the transaction closes, Oracle and Micros will continue to operate independently and it is business as usual. The board of directors of Micros has unanimously approved the transaction. The transaction is expected to close in the second half of 2014, subject to customary terms and conditions.
“We expect this transaction to be immediately accretive to Oracle’s earnings on a non‐GAAP basis and to expand over time,” said Oracle president and CFO, Safra Catz.From ChainStoreAge.com
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