Micros Systems

Micros Systems was an American computer and enterprise-technology company focused on software, hardware, and services for transaction processing and operational management in hospitality and adjacent venue-based industries. Its products served restaurants, hotels, casinos, cruise lines, sports and entertainment venues, specialty retailers, and other businesses requiring integrated point-of-sale and property-management systems. The company was incorporated in 1977 under the name Picos Manufacturing, Inc. It adopted the name Micros Systems, Inc. in 1978. The name MICROS was formed from the phrase “Modular Integrated Cash Register Operating Systems,” reflecting the company’s original emphasis on computerized cash-register and point-of-sale technology. From its headquarters in Columbia, Maryland, Micros developed a position in markets where operators needed reliable transaction terminals, centralized reporting, inventory and menu controls, guest-account management, and integration with broader hotel or restaurant systems. Micros’s business combined physical equipment with application software and support services. In restaurants, its systems were used to process orders and payments, manage menus and pricing, support table service and quick-service workflows, and connect front-of-house operations with reporting and back-office functions. In hotels, the company’s OPERA property-management platform addressed reservations, guest records, room inventory, billing, and related hotel processes. This combination made Micros a significant specialist supplier to large hospitality organizations and multi-site operators. An analyst estimate cited in 2003 placed the company’s share of the restaurant point-of-sale market at approximately 35 percent, although that figure was an external estimate rather than a company-reported global market share. Micros also expanded beyond conventional restaurants and hotels into casinos, cruise ships, entertainment venues, sports facilities, and specialty retail. Its technology was designed for distributed environments in which a central organization needed consistent controls across many terminals, properties, or locations. The company’s product portfolio and customer base consequently connected it to major hotel groups and other international hospitality operators. Oracle announced on June 23, 2014, that it intended to acquire Micros Systems for $68 per share in cash, representing an announced transaction value of approximately $5.3 billion. The acquisition ended Micros’s period as an independent company. After the transaction, Oracle incorporated the business into two major operating areas: Oracle Food and Beverage, which includes restaurant-focused technology, and Oracle Hospitality, which includes hotel and related hospitality systems. The former Micros identity continued to appear in product names, including Oracle MICROS Simphony and the OPERA property-management system, but Micros Systems ceased to operate as an independent corporate entity. Micros is therefore best understood today as a legacy hospitality-technology brand and product lineage within Oracle rather than as a standalone company. Its historical importance lies in helping establish integrated point-of-sale and property-management software as core infrastructure for restaurants, hotels, and other high-volume service businesses.

Micros Systems traces its origins to Picos Manufacturing, Inc., which was incorporated in 1977. The company changed its name to Micros Systems, Inc. in 1978. The MICROS name described the company’s original concept of modular, integrated cash-register operating systems and signaled its focus on computerized transaction processing. Based in Columbia, Maryland, Micros developed hardware, software, and services for businesses that required dependable point-of-sale and operational-control systems. Its principal markets were restaurants and hotels, but its technology was also used in casinos, cruise lines, sports and entertainment venues, specialty retail, and other hospitality-related settings. The company’s systems addressed front-line transactions as well as centralized administration, reporting, property operations, and integration across multiple locations. In restaurants, Micros products supported ordering, payment processing, menu administration, pricing, reporting, and related back-office activities. In hotels, the company’s OPERA property-management system provided tools for reservations, guest and room management, billing, and other hotel functions. The company’s ability to combine venue-level terminals with centralized software helped it serve large operators and hotel groups. A market-share estimate cited in 2003 placed Micros at about 35 percent of the restaurant point-of-sale business, illustrating its position as a major specialist in that segment, though the figure was an analyst estimate rather than a formal company disclosure. Micros broadened its portfolio through hospitality and retail applications. One example was MiRetail Hub, a workflow application associated with the retail market and built using Windows Workflow Foundation. The company also operated in markets where service businesses needed specialized systems for complex, high-volume, or distributed operations, including casinos, cruise ships, and entertainment venues. A major turning point came in June 2014, when Oracle Corporation announced an agreement to acquire Micros Systems. Oracle proposed to pay $68 in cash for each Micros share, with an announced total transaction value of approximately $5.3 billion. The acquisition brought Micros’s hospitality technology, customer relationships, and product portfolio into Oracle’s broader enterprise-software business. Micros was no longer an independent company after the transaction. Oracle subsequently organized the former Micros activities primarily under Oracle Hospitality and Oracle Food and Beverage. Restaurant technology continued through offerings such as Oracle MICROS Simphony, while the OPERA name remained associated with hotel property-management software. The corporate Micros entity therefore became defunct as an independent business, but its technology lineage and product branding continued within Oracle. The company’s historical legacy is that of a major hospitality-technology specialist whose point-of-sale and property-management systems became embedded in the operating infrastructure of restaurants, hotels, and other service venues.

• 2014

  Oracle announces acquisition

  [1]Micros Systemsen.wikipedia.org

  Oracle announced a proposed cash acquisition of Micros Systems at $68 per share, with an announced value of approximately $5.3 billion.

• 2014

  Micros becomes part of Oracle

  [1]Micros Systemsen.wikipedia.org

  The independent Micros company was absorbed into Oracle, with its activities continuing through Oracle Hospitality and Oracle Food and Beverage.

• 2003

  Analyst market-share estimate cited

  [1]Micros Systemsen.wikipedia.org

  An analyst estimate cited in company history placed Micros at approximately 35 percent of the restaurant point-of-sale market.

• 1978

  Name changed to Micros Systems

  [1]Micros Systemsen.wikipedia.org

  The company adopted the Micros Systems name, derived from its modular integrated cash-register operating-system concept.

• 1977

  Company incorporated as Picos Manufacturing

  [1]Micros Systemsen.wikipedia.org

  The business was incorporated as Picos Manufacturing, Inc., establishing the corporate predecessor of Micros Systems.

A specialized enterprise technology provider for hospitality and venue-based businesses, combining point-of-sale infrastructure, property-management software, operational applications, and support services. After its acquisition, the brand became part of Oracle’s hospitality and food-and-beverage technology portfolio.

• Restaurant point-of-sale

  MICROS Simphony

  A cloud-based restaurant point-of-sale platform carrying the MICROS name under Oracle. It represents the continuation of Micros’s restaurant technology lineage and is intended for transaction processing and operational management across restaurant environments.

• Hotel property-management software

  OPERA Property Management System

  Micros’s hotel property-management platform, used for functions including reservations, guest and room administration, billing, and related hotel operations. The OPERA product family continued under Oracle following the acquisition.

• Point-of-sale hardware and software

  MICROS restaurant point-of-sale systems

  The company’s core restaurant systems combined transaction terminals and software for ordering, payment, menu and pricing administration, reporting, and related back-office workflows. They formed the foundation of Micros’s position in restaurant technology.

• Retail workflow software

  MiRetail Hub

  A workflow application associated with the retail market and developed using Windows Workflow Foundation. It was part of Micros’s effort to support specialty retail and related operational processes.

• 2014

  Oracle agrees to acquire Micros SystemsM&A

  Background

  Micros was an established supplier of point-of-sale and hospitality-management technology serving restaurants, hotels, and other venue-based businesses. Oracle announced the transaction as a way to bring those capabilities into its enterprise and hospitality portfolio.

  Action taken

  Oracle proposed an all-cash purchase at $68 per Micros share, for an announced total value of approximately $5.3 billion.

  Aftermath

  Micros ceased to operate as an independent company. Its products and business activities continued within Oracle Hospitality and Oracle Food and Beverage, including the MICROS and OPERA product lines.

  Announced transaction value. $5.3 billion announced value (2014)

  Source

1. 1Micros Systemsen.wikipedia.org