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Oracle Corp. is close to making a deal with Micros Systems, Inc. to buy the company for $5 billion, Bloomberg reported Monday.
Alex Sherman and Dina Bass write that Larry Ellison, Oracle CEO, is in talks with restaurant and hotel software provider, Micros systems about acquiring them in hopes of spurring growth into the cloud software industry as a provider of software clients moving towards web-based computing.
“This would really be an acquisition for their retail arm and it would add another leg to their growth stool as they are more focused on their e-commerce and cloud strategy,†said Daniel Ives, an analyst at FBR Capital Markets & Co., who rates Oracle the equivalent of a buy.
Although Oracle and Micros are nearing a deal, insiders said there is still a possibility that the two could fail to come to an agreement, Bloomberg reported.
