PHILADELPHIA, June 23, 2014: MICROS Systems, Inc. announced today that it has agreed to be acquired by Oracle. Under the terms of the agreement, MICROS stockholders will receive $68.00 in cash for each share of common stock they hold. The purchase price represents a fully-diluted equity value of approximately $5.3 billion, or $4.6 billion net of cash. Based in Columbia, Maryland, MICROS is a provider of information technology solutions for the hospitality and retail industries. Together, Oracle and MICROS will help hotels, food & beverage facilities, and retailers to accelerate innovation, transform their businesses, and delight customers with complete, open and integrated solutions.
Led by Business and Finance partners Richard Aldridge and Colby Smith, a multi-office team of Morgan Lewis lawyers collaborated in the representation of MICROS on every aspect of the transaction.
The team was rounded out by Securities Practice partners Alan Singer and David Sirignano; Business and Finance associates Michael Baxter, Lindsay Tarnowski, James Sherwood and Sean Donahue; Antitrust Practice partners Harry Robins and Izzet Sinan, as well as associate David Brenneman; Employee Benefits and Executive Compensation Practice senior counsel Joseph Ronan Jr.; Tax Practice partner Paul Gordon; Intellectual Property partners Kenneth Davis, Douglas Crisman, and Ron Dreben, and associate Squire Servance; Litigation partners David Luttinger Jr., Christian Mixter, Steven Reed, and Elizabeth Hoop Fay, of counsel Karen Pohlmann, and associate Esther Winne.
For further information about the transaction, please see the press release issued by MICROS.