Oracle buying Micros Systems for about $5.3B

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Associated Press

Posted on June 23, 2014 at 6:22 AM

Updated Monday, Jun 23 at 9:05 AM

REDWOOD SHORES, Calif. (AP) — Software maker Oracle is Micros Systems Inc., which provides software and hardware to the hospitality and retail industries, for about $5.3 billion.

Oracle Corp. said Monday that it will pay $68 per Micros 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 says it expects the deal to immediately add to its adjusted earnings.

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.

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