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Oracle to buy Columbia's Micros Systems in $5.3 billion deal

Oracle to buy Columbia's Micros Systems in $5.3 billion deal

Silicon Valley giant Oracle Corp. plans to acquire Columbia-based Micros Systems Inc. for $5.3 billion in a deal executives and industry observers said could generate local job growth instead of the typical corporate consolidation.

In the deal announced Monday, Oracle offered $68 per share for Micros, about 20 percent more than the shares traded for before rumors of the deal began circulating last week.

Oracle would gain the company's stable of brand-name customers, growth opportunities and niche technology processing sales in the hotel, restaurant and retail industries. Micros' board of directors unanimously approved the transaction, expected to close by year's...

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