Oracle acquires Micros
Redwood Shores, Calif. – Oracle Corp. has acquired Micros Systems, a provider of integrated retail and hospitality enterprise solutions, for $5.3 billion. This figure is 27-times Micros’ current earnings.
Micros offers on-premise and hosted cloud implementations of front- and back-office applications. Retail solutions include POS, e-commerce, CRM, merchandise planning and loss prevention.
On the retail side, this purchase provides Oracle with a leading position in the POS marketplace. Micros is also a leading provider of mobile POS solutions for the specialty retail and table service restaurant verticals. Other areas where Micros offers Oracle built-in strength include loss prevention and hosted business intelligence.
Micros’ management and employees will form a dedicated business within Oracle, and until the transaction closes, Oracle and Micros will continue to operate independently and it is business as usual. The board of directors of Micros has unanimously approved the transaction. The transaction is expected to close in the second half of 2014, subject to customary terms and conditions.
“We expect this transaction to be immediately accretive to Oracle’s earnings on a non‐GAAP basis and to expand over time,” said Oracle president and CFO Safra Catz.
Study: Retailers dominate list of worst places to work
Sausalito, Calif. – Retailers dominated a list of the worst companies in the U.S. to work, taking eight of the top 11 spots. According to a report from corporate review site Glassdoor.com, Books-A-Million is the worst company to work for in the U.S., with common employee complaints including low pay, high stress and limited promotion opportunities.
Other retailers making the list include Jos. A. Bank (No. 4), Dillard’s (No. 6), Hhgregg (No. 8), Family Dollar (No. 9), Children’s Place (No. 10) and RadioShack (No. 11). In general, retail employees were dissatisfied with working hours, difficulties in meeting commission requirements, customer service policies, and middle management.
Staples offers back-to-school price match
Framingham, Mass. – Staples Inc. is offering a new back-to-school 110% price match guarantee. Starting June 29, Staples customers are guaranteed to pay the lowest price every time they shop in store or online. Staples will price match items sold and shipped by Amazon.com or any retailer who sells products in both retail stores and online under the same brand.
Customers will receive an additional 10% off the difference between the Staples price and the competitor price. The back-to-school 110% price match guarantee is valid at the time of purchase in Staples stores and on Staples.com.