MICROS Systems, Inc. a leading provider of information technology solutions for the hospitality and retail industries, has signed an agreement to acquire the outstanding stock of Torex Retail Holdings, Ltd. from its private equity owners. The purchase price is approximately 114.5 million Pounds in cash and the assumption of debt valued at 48.0 million Pounds. Torex Retail Holdings, Ltd., headquartered in Dunstable, England, is a provider of information technology systems for the retail, fuel and convenience stores and pub markets in the United Kingdom and Continental Europe. The deal is expected to close in a timely fashion, subject to customary government approvals.
Tom Giannopoulos, MICROS's Chairman and CEO stated, "We are excited about our agreement to purchase Torex Retail Holdings, Ltd. This acquisition is an important step forward for MICROS to fully launch its retail technology business in theUnited Kingdom and Continental Europe. Torex has a broad customer base and product and service portfolio. We look forward to welcoming the Torex employees and customers to MICROS."
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