Oracle Agrees to Buy Micros Systems for $5.3 Billion

Company sign Oracle on an office building, Germany
REDWOOD SHORES, Calif. -- Software maker Oracle is buying Micros Systems, which provides software and hardware to the hospitality and retail industries, for about $5.3 billion.

Oracle (ORCL) said Monday that it will pay $68 for each Micros (MCRS) share, a 3 percent premium to the company's $65.77 Friday closing price.

Shares of Micros gained $1.43, or 2.2 percent, to $67.20 in premarket trading Monday.

Oracle said the acquisition will extend its offerings by combining Micros' industry-specific applications with its business applications, technologies and cloud portfolio.

Oracle expects the deal to immediately add to its adjusted earnings. Its stock climbed 18 cents to $41 before the market opened.

Micros' board unanimously approved the transaction, which is expected to close in the second half of the year.

Oracle is based in Redwood Shores, California. Micros Systems is headquartered in Columbia, Maryland.

Last week Oracle reported fourth-quarter results that missed Wall Street's expectations, hurt in part by the devaluation of Venezuela's currency.

(This is a breaking news story. Check back for updates.)

Oracle May Buy Micros Systems For More Than $5 Billion: Bloomberg

Increase your money and finance knowledge from home

Basics Of The Stock Market

Stock Market 101 - everything you need to know but were afraid to ask!

View Course »

Investing in Startups

The lucrative and risky world of startups.

View Course »