MICROS Systems (MCRS) to be Acquired by Oracle for $5.3B
Shares of the MICROS Systems Inc. (MCRS) were trading up +1.63 or +2.48 percent to $67.40 per share in pre-market trading on Monday, after news that Oracle Corp. (ORCL) would be taking the company over in a $5.3 billion deal. MICROS Systems stock closed at $65.77 per share, up +0.52 or +0.80% in Fridayâ s regular trading session.
Columbia, Maryland based MICROS Systems Inc. is a major manufacturer and seller of computer hardware and software systems for point of sale, specialty retail markets, hospitality and hotels and restaurants businesses. In addition, the company operates a property management system known as OPERA, servicing large hotel chains such as Radisson Hotels and Resorts, Hyatt Hotels and Resorts, Travelodge Hotels, Marriott Hotels Resorts and Suites and InterContinental Hotels Group among others. As of 2012, the company had 6,300 employees, servicing over 330,000 systems in 180 countries. Redwood City, California based Oracle Corporation is the worldâ s third largest maker of computer software by revenue after Microsoft (MSFT
) and International Business Machines (IBM
). The company specializes in computer hardware and database management systems and Internet based software. The company reported earnings last week that failed to meet analyst expectations. The deal, which was just formally announced, will have Oracle pay $68.00 per share for MICROS Systems. News of the possible deal surfaced last week with MICROS Systems stock soaring as much as +22 percent after the news broke on June 17th. Oracle tried to take over MICROS Systems six years ago, but the deal fell through at the last minute. MICROS President and CEO, Peter Altabef wrote in a press release, â
Published on Jun 23, 2014
By Jay Hawk