NEW YORK (TheStreet) -- Oracle Corp. (ORCL) announced this morning that it has acquired MICROS Systems (MCRS), a company that provides integrated software and hardware solutions for the hospitality and retail industries, for $68 per share in a cash transaction valued at $5.3 billion.
By adding MICROS to its business, Oracle is able to extend its offerings in various industries by combining MICROS' industry specific applications with Oracle's business applications, technologies, and cloud portfolio, Oracle said.
The deal is expected to close during the second half of 2014.
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Shares of Oracle are up 0.51% to $41.03 in pre-market trading on Monday morning. Shares of MICROS are gaining 3.07% to $67.79 in pre-market trading today.
Separately, TheStreet Ratings team rates ORACLE CORP as a Buy with a ratings score of A. TheStreet Ratings Team has this to say about their recommendation:
"We rate ORACLE CORP (ORCL) a BUY. This is based on the convergence of positive investment measures, which should help this stock outperform the majority of stocks that we rate. The company's strengths can be seen in multiple areas, such as its revenue growth and solid stock price performance. We feel these strengths outweigh the fact that the company has had sub par growth in net income."
Highlights from the analysis by TheStreet Ratings Team goes as follows: