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Software maker Oracle purchasing Micros Systems for about $5.3 billion

This product image provided by Micros Systems Inc. shows the company's mStation and mTablet devices. Software maker Oracle is buying Micros Systems Inc., which provides software and hardware to the hospitality and retail industries, for about $5.3 billion, the companies announced Monday, July 23, 2014. (AP Photo/Micros Systems Inc.)

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This product image provided by Micros Systems Inc. shows the company's mStation and mTablet devices. Software maker Oracle is buying Micros Systems Inc., which provides software and hardware to the hospitality and retail industries, for about $5.3 billion, the companies announced Monday, July 23, 2014. (AP Photo/Micros Systems Inc.)

REDWOOD SHORES, Calif. - Software maker Oracle is buying Micros Systems Inc., which provides software and hardware to the hospitality and retail industries, for about $5.3 billion.

Oracle Corp. said Monday that it will pay $68 per Micros share, a 3 per cent premium to the company's $65.77 Friday closing price.

Shares of Micros gained $1.43, or 2.2 per cent, to $67.20 in premarket trading Monday.

Oracle said the acquisition will extend its offerings by combining Micros' industry-specific applications with its business applications, technologies and cloud portfolio.

Oracle expects the deal to immediately add to its adjusted earnings. Its stock climbed 18 cents to $41 before the market opened.

Micros' board unanimously approved the transaction, which is expected to close in the second half of the year.

Oracle is based in Redwood Shores, California. Micros Systems is headquartered in Columbia, Maryland.

Last week Oracle reported fourth-quarter results that missed Wall Street's expectations, hurt in part by the devaluation of Venezuela's currency.

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