MICROS Systems acquires Torex Retail for £162.5m

US enterprise applications provider buys UK-based IT services provider

Enterprise applications provider MICROS Systems has acquired UK-based IT services provider Torex Retail in a £114.5m cash deal.

Dunstable-headquartered Torex Retail provides IT services to the retail, convenience and fuel markets. US-based MICROS Systems provides enterprise applications for the hospitality and retail industries.

"We wanted to get involved in the retail sector, which Torex has a presence in," Kaweh Niroomand, president of MICROS Systems EMEA, told Computing. "Our competitors only offer either retail, restaurant or hotel solutions, but we can now offer all three and therefore gain a big market share in each of these areas."

Niroomand said that as MICROS and Torex have few overlaps in their offerings, integration should be straightforward and no job cuts were expected.