Cloud Computing: Oracle Said Near Deal for Micros Systems at More Than $5 Billion
June 17, 2014
Grazed from MoneyNews. Author: Editorial Staff.
Oracle Corp. is nearing a deal to buy hospitality-industry software provider Micros Systems Inc. for more than $5 billion, people familiar with the matter said. Oracle and Micros are in exclusive talks, though the two sides could still fail to reach an agreement, said the people, who asked not to be identified discussing a private matter.
Oracle Chief Executive Officer Larry Ellison is looking to acquisitions to fuel expansion after 10 quarters of sluggish sales growth. The company was late to the market for Internet-based cloud software and Ellison is now rushing to remake Oracle as a provider of gear and programs to underpin its clients’ shift to Web-based computing…
Dealmaking in the technology space is accelerating as established software companies try to navigate the shift to cloud computing and see off challenges from new competitors. Earlier this week SanDisk Corp. agreed to buy Fusion-io Inc., which provides storage to Facebook Inc. and Apple Inc., for about $1.1 billion…
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