REDWOOD CITY, Calif., June 23 (UPI) -- Oracle announced Monday morning that it plans to acquire Micros Systems, a maker of software for hospitality and restaurant clients, for $5.3 billion in cash.
Under the deal, Oracle will pay $68 per Micros share, which is a 18 percent premium over the company's June 16 closing price, a day before Bloomberg reported that the deal was close to completion. This is the send time Oracle has attempted to acquire Micros, after a failed attempt six years ago that fell through at the last minute.