European regulators have approved Oracle’s pending offer for Micros Systems, according to Oracle, which sets the company up to deepen its enterprise offerings for the food and drink, hotel and retail verticals.
Oracle announced the $5.3 billion acquisition of Micros Systems in late June. Micros focuses on cloud-based, mobile and on-premise enterprise offerings for hospitality and retail, ranging from point-of-sale hardware and software to business intelligence (BI), back-office systems and other enterprise applications. Micros also provides analytics solutions for processing data at a corporate level.
Micros has more than 6,600 employees and its solutions are in use at 330,000 customer sites in 180 countries, according to the company. Its customers include hotel chains such as Omni Hotels; major food and drink chains such as Pizza Hut and T.G.I. Fridays; and retailers including Ikea. One of its subsidiaries, JTech Communications, focuses on wireless solutions such as wait list apps, paging systems and texting apps for restaurants, hospitals and retail stores.
Forbes said it expects cloud-based services to become a growing part of Micros’ offerings and that the acquisition should revitalize Oracle’s position in the application software market. When the proposed acquisition was announced, the two companies positioned the purchase as a chance for Oracle to combine its business applications, technology and cloud offerings with Micros’ industry-tailored solutions.
Oracle CFO Safra Catz said at the time that the addition of Micros was expected to be immediately beneficial to Oracle’s non-GAAP earnings and that it was expected to grow over time. Micros reported that for the fiscal year ended June 30, 2013, it had revenues of $1.268 million and net income of $171.4 million.
The transaction is expected to close in the second half.
