SEATTLE — Oracle Corp. has agreed to buy Micros Systems Inc. for $5.3 billion as Chief Executive Officer Larry Ellison seeks to reignite slowing growth by adding software for hotels and restaurants.
Micros stockholders will get $68 a share in cash, 18 percent more than the closing price on June 16, a day before Bloomberg reported the companies were near a deal. Net of Micros’s cash, the value is $4.6 billion, Oracle said in a statement Monday. The Redwood City, Calif.-based software maker came close to acquiring Micros six years ago only for the deal to fall through at the last minute.
Oracle, which has acquired about 100 companies in the last decade, has seen the incremental revenue gains accrued through those deals dry up.
“Micros gives them a strong foothold in the hotel and hospitality industry,” said Richard Williams, an analyst at Summit Research Partners in Summit, New Jersey. “That will be an important asset for them and will tie well into their other systems such as their engineer systems and cloud-related offerings.”
