Oracle Completes Acquisition of MICROS Systems
The combination of Oracle and MICROS will help Hotels, Food & Beverage (F&B) and Retail companies transform their businesses and compete more effectively in today’s environment. Oracle will continue its highly successful dedicated business unit model with MICROS by creating a new Hospitality Global Business Unit focused on the Hotel and F&B industry. This new unit will be led by Mike Webster, Oracle’s existing head of the Oracle Retail Global Business Unit.
“Together, Oracle and MICROS will help Hospitality and Retail companies respond to rapidly evolving customer expectations, increase revenue, and drive operational improvements with complete, open and integrated solutions,” said Mike Webster, Senior Vice President and GM, Oracle Retail and Hospitality. “Our customers will appreciate our deep domain expertise across both Retail and Hospitality as we deliver mission-critical solutions to solve our customers’ most important business initiatives.”
More information about this announcement is available at oracle.com/micros
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Cautionary Statement Regarding Forward-Looking Statements
This document contains certain forward-looking statements about Oracle and MICROS, including statements that involve risks and uncertainties concerning Oracle's acquisition of MICROS, anticipated customer benefits and general business outlook. When used in this document, the words "anticipates", “can", “will”, "look forward to", "expected" and similar expressions and any other statements that are not historical facts are intended to identify those assertions as forward-looking statements. Any such statement may be influenced by a variety of factors, many of which are beyond the control of Oracle or MICROS, that could cause actual outcomes and results to be materially different from those projected, described, expressed or implied in this document due to a number of risks and uncertainties. Potential risks and uncertainties include, among others, the risk that anticipated synergies of the combined companies may not be achieved after closing, the combined operations may not be successfully integrated in a timely manner, if at all, general economic conditions in regions in which either companies do business, and the possibility that Oracle or MICROS may be adversely affected by other economic, business, and/or competitive factors. Accordingly, no assurances can be given that any of the events anticipated by the forward-looking statements will transpire or occur, or if any of them do so, what impact they will have on the results of operations or financial condition of Oracle or MICROS.
In addition, please refer to the documents that Oracle and MICROS, respectively, file with the U.S. Securities and Exchange Commission (the “SEC”) on Forms 10-K, 10-Q and 8-K. These filings identify and address other important factors that could cause Oracle's and MICROS’ respective operational and other results to differ materially from those contained in the forward-looking statements set forth in this document. You are cautioned to not place undue reliance on forward-looking statements, which speak only as of the date of this document. Neither Oracle nor MICROS is under any duty to update any of the information in this document.
Oracle is currently reviewing the existing MICROS product roadmap and will be providing guidance to customers in accordance with Oracle's standard product communication policies. Any resulting features and timing of release of such features as determined by Oracle's review of MICROS’ product roadmap are at the sole discretion of Oracle. All product roadmap information, whether communicated by MICROS or by Oracle, does not represent a commitment to deliver any material, code, or functionality, and should not be relied upon in making purchasing decisions. It is intended for information purposes only, and may not be incorporated into any contract.