NEW YORK, USA: Business software specialist Oracle confirmed it will buy rival Micros Systems for $5.3bn in a deal that will expand its 'big data' efforts in the hotel and restaurant sectors.
Oracle's President Mark Hurd says the purchase of Micros Systems will boost profitability immediately. Image: Zimbio
The purchase is the biggest for Oracle since it bought Sun Microsystems in 2010.
Oracle's $39bn cash stockpile will provide the cash for this deal and comes after the software company founded by Larry Ellison produced disappointing results in the past quarter.
"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's President Mark Hurd.
"We anticipate delivering compelling advantages to companies within the hospitality and retail industries with the purchase of Micros," said Hurd.
Micros has about 567,000 customers, including hotels, casinos, restaurants, retail, leisure and entertainment providers in more than 180 countries.
Its products include point-of-sale devices, which replace cash registers, and tablets installed in restaurants to allow diners to see and order directly from electronic menus.
Oracle said the acquisition would have a positive impact on its results immediately. Micros was founded in 1977 in Columbia, Maryland.
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