Report: Oracle Nearing Deal for Micros Systems

Oracle (NYSE:ORCL) is closing in on a deal to buy Micros Systems (NASDAQ:MCRS) for at least $5 billion, according to a report from Bloomberg News.

Micros, which provides software and services for the hospitality industry, jumped 17.7% to $67.90 on the news. Oracle rose 1% to $42.56.

Citing people familiar with the matter, Bloomberg said Tuesday the companies are in exclusive talks, but an agreement could still fall through. Micros had a market value of $4.3 billion at Monday’s close.

Oracle declined to comment. A Micros spokesperson didn’t immediately respond to an inquiry from FOX Business.

Redwood Shores, Calif.-based Oracle is trying to catch up to rival software makers who capitalized on the growing popularity of cloud services and Web-based programs.

Other technology firms are also looking to fuel growth through deals. SanDisk (NASDAQ:SNDK) recently agreed to pay $1.1 billion for Fusion-io (NYSE:FIO), which makes software and hardware products that improve application performance in data centers.

An acquisition of Columbia, Md.-based Micros would likely be Oracle’s largest since 2009, when the software giant bought Sun Microsystems for $5.7 billion.

Oracle is scheduled to report earnings on Thursday.