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Oracle snaps up Micros Systems for $5.3 billion

Hand shake
Oracle shakes on it

So the rumours were indeed true: Oracle has offered to buy Micros Systems for $5.3 billion (around £3.1 billion, AU$5.7 billion).

This is the company's largest acquisition since snapping Sun Microsystems for $7.4 billion (around £5 billion, AU$8 billion) five years ago.

The purchase will give Oracle a much bigger foothold in the retail, restaurant and hospitality markets where it will compete with SAP, IBM and smaller players like NCR.

Oracle is seen as a late entrant to the booming cloud-based, connected solution market where verticals, like personal transportation or home services, can be worth tens of billions of dollars.

Snappy share

Many will see the company's decision to buy Micros Systems as a quick and easy way to gain market share in new segments.

Expect more of the same from Oracle as its shares inch towards a 10-year high and shareholders and analysts demand more action in emerging areas.

Its CEO Larry Ellison said that the company is "focused like a laser" on becoming the number one cloud company in software-as-a-service (SaaS) and Platform-as-a-Service (PaaS) segments after it revealed disappointing financials for its fourth fiscal quarter.