Oracle has completed the acquisition of hospitality and retail-based enterprise services firm Micros Systems.
The companiesthe buyout plans in June this year. Oracle agreed to secure the company for $68 per share in cash --approximately $5.3 billion -- and following the unanimous support of Micros shareholders, now the transaction has officially closed.
Micros Systems provides hospitality and retail businesses with hardware, software, cloud solutions and scalable point-of-sale services. The firm, based in Columbia, Maryland, has been involved with the operation of over 330,000 retail sites in 180 countries to date.
Oracle announced the completion of the deal on Tuesday. In a press release, the company said a new 'Hospitality Global Business Unit' would be created based on the purchase of Micros, and this unit will focus on the hospitality and food & beverage industry.
The new unit will be led by Mike Webster, Oracle's existing head of the Oracle Retail Global Business Unit. The executive commented:
"Together, Oracle and Micros will help hospitality and retail companies respond to rapidly evolving customer expectations, increase revenue, and drive operational improvements with complete, open and integrated solutions. Our customers will appreciate our deep domain expertise across both retail and hospitality as we deliver mission-critical solutions to solve our customers' most important business initiatives."
The purchase of Micros Systems is the largest acquisition Oracle has made since the purchase of Sun Microsystems in 2010 for over $7 billion.
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