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Oracle Acquire Micros System Inc. For $5.3 Billion

Oracle Corporation announced an acquisition deal with Micros System Inc., the retail and hospitality software maker, for $5.3 billion.

Oracle will pay $68 for share of common stock, which is 3.4% premium to Friday’s close.

Micros sell internet –connected cash registers and the software to restaurants, retail shops, casinos etc.

Micros is projected to generate $1.37 billion in fiscal 2014.

The deal should be over by the second half of this year.

This acquisition will help Oracle enter these industries and open up new business opportunities for Oracle.