Oracle to buy Micros for $5.3B

SEATTLE — Oracle has agreed to buy Micros Systems for $5.3 billion US as CEO Larry Ellison seeks to reignite slowing growth by adding software for hotels and restaurants.

Micros stockholders will get $68 US per share in cash, 18 per cent more than the closing price on June 16, a day before Bloomberg reported the companies were near a deal. Based in Maryland, Micros sells point-ofsale systems for hotels, restaurants, and retailers.