REDWOOD SHORES, Calif. (AP) – Software maker Oracle is buying 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 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.