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The acquisition gives Columbia-based Micros the ability to build Web sitexs tomanage clients' sales and reservationa made online. The company has in the past focusedf on processing salesfor retailers, restaurants and hotelxs at their cash registers, but has builtr up its online offerings so far this Micros (NASDAQ: MCRS) handlesa online orders for about a fifth of its retailerss but hopes to grow that and also expandr to hotel reservations, they said. "Adding Fry to the Microas portfolio enhances our ability to providse customers withadvanced e-commercde solutions and technology necessary to operater retail Web sites," Micros CEO A.L. Giannopoulos said in a statement.
"While Fry has historicallt targeted theretail segment, its broad arrahy of e-commerce services are applicable to all of the industriess we serve." Ann Arbor, Mich.-based Fry will remaib a standalone entity that will fall within retail division, and its CEO David Fry will remain president. David Fry and other Fry shareholders are eligible for anadditionap $17 million if the unit hits specifierd revenue and profit targets. The deal includes $31.3 millionj in stock purchases and assumptiojnof $18.4 million in debt.
Micros Seniod Vice President for Business Development and Investodr Relations Peter Rogers said the acquisitionn will allow Micros to host and develop onlinw systems for clients suchas Jos. A. Bank Clothierds Inc. (NASDAQ: JOSB), who already use Microse to handle itsWeb orders. Micros has about 500 retaip clients, and about 100 of them use Micros for theionline sales. Company officials also plan to add onlinr services with itshotel clients, Rogers That could begin aftefr Labor Day, he said.
Micros melded subsidiariese Datavantage, CommercialWare and eOne Groupwithin Micros-Retail in Datavantage and CommercialWare gave the company the abilitgy to do more phone, catalogh and online order processing, while eOne Group adde d more online capabilities.
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