MICROS Systems, Inc., a provider of information technology solutions for the hospitality industry, announced the acquisition of Datavantage Corporation, a provider of information technology solutions for the specialty and general merchandise retail industry, for a combination of cash and stock in the amount of approximately $52 million. Headquartered in Cleveland, Ohio, Datavantage, with 2002 revenue of $42 million, will be operated as a wholly owned subsidiary of MICROS Systems, Inc.
Datavantage provides information technology solutions that help retailers improve customer service, streamline operations, increase productivity and eliminate revenue losses due to theft. Datavantage achieved the largest POS software market penetration among the top 100 specialty retailers according to the “4th Annual POS Benchmarking Survey: A Retailer Perspective, January 2003” conducted by LakeWest Group in the Fall of 2002.
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