Return to our Home page Search
Click here for the hotel and hospitality news from around the globe Hotel, Travel and Hospitality Articles Videos and in-depth Interviews
CONCIERGE DESK
Read more now
Read more now
Read more now
Oracle buys MICROS - Allows company to expand into more industries.
Tuesday, 24th June 2014
Source : Oracle
 

Cloud, mobile, social, big data and the internet of things are impacting every industry, encouraging companies to modernize in order to compete effectively.

Oracle announced that it has entered into a definitive agreement to acquire MICROS Systems, Inc, a provider of integrated software and hardware solutions to the Hospitality and Retail industries, for $68.00 per share in cash. The transaction is valued at approximately $5.3 billion, or $4.6 billion net of MICROS’ cash.

The addition of MICROS extends Oracle’s offerings in industries by combining MICROS’ industry specific applications with Oracle’s business applications, technologies and cloud portfolio. Together, Oracle and MICROS will help hotels, food & beverage facilities, and retailers to accelerate innovation, transform their businesses, and delight customers with complete, open and integrated solutions.

The Board of Directors of MICROS has unanimously approved the transaction. The transaction is expected to close in the second half of 2014, subject to MICROS stockholders tendering a majority of MICROS’ outstanding shares and shares representing vested equity incentive awards in the tender offer, certain regulatory approvals and other customary closing conditions.

“Oracle has successfully helped customers across multiple industries, harness the power of cloud, mobile, social, big data and the internet of things to transform their businesses,” said Oracle President Mark Hurd. “We anticipate delivering compelling advantages to companies within the Hospitality and Retail industries with the acquisition of MICROS.”

“MICROS has been focused on helping the world’s leading brands in our target markets since we were founded in 1977, including running more than 330,000 sites across 180 countries today,” said Peter Altabef, President and CEO, MICROS. “In combination with Oracle, we expect to help accelerate our customers’ ability to innovate and differentiate their businesses by utilizing Oracle’s technologies, cloud solutions and scale. We are very excited about the great opportunities this will create for our customers and employees.”

“We are committed to protecting and enhancing customer investments in MICROS solutions. MICROS’ management and employees will form a dedicated business within Oracle to maintain their focus on serving customers,” said Executive Vice President for Oracle Global Business Units Bob Weiler. “Our industry organizations maintain deep domain expertise and focused investment, which includes more than 18,000 Oracle employees and over $500 million in annual R&D spend. This model has proven highly successful across several industries, and we look forward to bringing these same benefits to the customers of MICROS.”

“We expect this transaction to be immediately accretive to Oracle’s earnings on a non-GAAP basis and to expand over time,” said Oracle President and CFO Safra Catz.

~ Important Notice ~
Articles appearing here contain copyright material. They are meant for your personal use and may not be reproduced or redistributed. While 4Hoteliers makes every effort to ensure accuracy, we can not be held responsible for the content nor the views expressed, which may not necessarily be those of either the original author or 4Hoteliers or its agents.

Learn more about DigiJames - in room technology
Advertisment  
 Latest News  (Click title to read article)
Results of its global hotel management contract survey
Thursday, 21st August 2014

We're kicking AirAsia ass says Nok Air boss
Thursday, 21st August 2014

Tourism in the Baltic States in the ascendant – need of new hotels
Thursday, 21st August 2014

Swiss-Belhotel expands Middle East footprint
Thursday, 21st August 2014

LEED certification boosts hotel revenue
Thursday, 21st August 2014
 Latest Articles  (Click title to read article)
What in Hell is the USP? And Why Do You Need One? Redux
Thursday, 21st August 2014

A Brief Guide to Managing Your Hotel's Digital Assets
Thursday, 21st August 2014

Robotic Service
Thursday, 21st August 2014

Ritz-Carlton Brings Brand Insights To LinkedIn
Wednesday, 20th August 2014

Global Update: Who's Where and Doing What - July 2014
Wednesday, 20th August 2014
 Most Read News  (Click title to read article)
Thailand Situation Updated - June 27: Thailand tourism gets stronger than ever
NH Hotel Group disposes Amsterdam asset
NH Hotel presents new category of hotel: NH Collection
Singapore Airport T4: Ready for future growth
World's weirdest hotel requests and complaints

© Copyright 4Hoteliers 2001-2014 ~ unless stated otherwise, all rights reserved.
You can read more about 4Hoteliers and our company here

Use of this web site is subject to our
terms & conditions of service and privacy policy