Oracle is buying Micros Systems Inc., which provides software and hardware to the hospitality and retail industries, for about $5.3 billion. Oracle said Monday that it will pay $68 per Micros share, a 3 percent premium to the company's $65.77 Friday closing price.

Oracle said the acquisition will extend its offerings by combining Micros' industry-specific applications with its business applications, technologies and cloud portfolio.

Oracle expects the transaction to close in the second half of the year.