Oracle Buys Hospitality Vendor MICROS For $5.3 Billion

In its biggest acquisition in five years, Oracle — the technology development company second only to Microsoft in software-making revenue — announced on Monday, June 23, that it had agreed to purchase MICROS Systems, the hospitality and retail software maker.

The $5.3 billion deal is expected to connect MICROS with newer and more global markets, while giving Oracle access to MICROS customers like Hilton, Hyatt, Marriott, IHOP, Ben & Jerry's, and others.

"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," announced the companies in a joint press release.  

"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."

MICROS' board of directors has unanimously approved the transaction, and the deal is expected to close by the end of 2014.

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Karen Lo is an associate editor at The Daily Meal. Follow her on Twitter @appleplexy.