Oracle splashes out on Micros

Oliver Smith
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IT GIANT Oracle yesterday said it has sealed a deal to buy retail and hospitality software maker Micros for around $5.3bn (£3.1bn), in a transaction expected to close during the second half of 2014.

Micros sells internet connected cash registers along with software and technical services.

The deal is Oracle’s second largest since it bought Sun Microsystems in 2009 for $5.6bn. Oracle’s bid of $68 per share represents a premium of 3.4 per cent to Micros’ Friday closing price.

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