Oracle Corporation (NYSE:ORCL) has agreed to buy Micros Systems in its largest acquisition since 2010. This deal is valued at around $5.3 billion. Oracle is offering $68 per share for Micros, which is known for selling software that is used by retailers and hospitality companies.
The sale is a 3.4% premium to Friday’s close. Micros’ stock surged after it was reported that the two companies were in exclusive talks. Micros sells Internet-powered cash registers and software to power them. Oracle’s acquisition of Micros is one of the largest tech takeovers this year.
The last major Oracle takeover took place in 2010 with the $7.4 billion acquisition of Sun Microsystems. The transaction is expected to close in the second half of this year. Oracle CFO Safra Catz said that the company expects the deal will immediately add to per-share adjusted earnings.