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Oracle's $5.3bn MICROS purchase gets EC thumbs-up

ZDNet - Oracle's $5.3m takeover of retail and hospitality technology firm MICROS Systems has passed the European Commission's regulatory hurdle but still faces an impending deadline for shareholder approval.

On Friday, the EC said the planned purchase of the Columbia, Maryland-based company, announced in late June, raises no competitive issues and can go ahead.

"The commission concluded that the proposed acquisition would not raise competition concerns because the combined market share of MICROS and Oracle is limited and many strong competitors would remain after the acquisition," the EC said in a statement.