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Oracle Adds Hospitality, Retail Tech Vendor with MICROS Acquisition

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Adebayo Sanni, Country Manager, Oracle, Nigeri

 
Oracle on Thursday announced that it has entered into a definitive agreement to acquire MICROS Systems, Inc., a provider of integrated software and hardware solutions to the Hospitality and Retail industries, for $68.00 per share in cash.

The transaction is valued at approximately $5.3 billion, or $4.6 billion net of MICROS’ cash.

Cloud, mobile, social, big data and the internet of things are impacting every industry, encouraging companies to modernize in order to compete effectively.

The addition of MICROS extends Oracle’s offerings in industries by combining MICROS’ industry specific applications with Oracle’s business applications, technologies and cloud portfolio.

Together, Oracle and MICROS will help hotels, food & beverage facilities, and retailers to accelerate innovation, transform their businesses, and delight customers with complete, open and integrated solutions.

The Board of Directors of MICROS has unanimously approved the transaction.

The transaction is expected to close in the second half of 2014, subject to MICROS stockholders tendering a majority of MICROS’ outstanding shares and shares representing vested equity incentive awards in the tender offer, certain regulatory approvals and other customary closing conditions.

“Oracle has successfully helped customers across multiple industries, harness the power of cloud, mobile, social, big data and the internet of things to transform their businesses,” said Mark Hurd, Oracle president.

“We anticipate delivering compelling advantages to companies within the Hospitality and Retail industries with the acquisition of MICROS.”

Commenting on the matter, Peter Altabef, president and ceo, MICROS, said, “MICROS has been focused on helping the world’s leading brands in our target markets since we were founded in 1977, including running more than 330,000 sites across 180 countries today.

“In combination with Oracle, we expect to help accelerate our customers’ ability to innovate and differentiate their businesses by utilizing Oracle’s technologies, cloud solutions and scale. We are very excited about the great opportunities this will create for our customers and employees.”

On his part, Bob Weiler, executive vice president for Oracle Global Business Units, said, “We are committed to protecting and enhancing customer investments in MICROS solutions. MICROS’ management and employees will form a dedicated business within Oracle to maintain their focus on serving customers.

“Our industry organizations maintain deep domain expertise and focused investment, which includes more than 18,000 Oracle employees and over $500 million in annual R&D spend. This model has proven highly successful across several industries, and we look forward to bringing these same benefits to the customers of MICROS.”

“We expect this transaction to be immediately accretive to Oracle’s earnings on a non-GAAP basis and to expand over time,” said Oracle President and CFO Safra Catz.

Oracle is a registered trademark of Oracle Corporation and/or its affiliates. Other names may be trademarks of their respective owners.

Oracle is currently reviewing the existing MICROS product roadmap and will be providing guidance to customers in accordance with Oracle’s standard product communication policies. Any resulting features and timing of release of such features as determined by Oracle’s review of MICROS’ product roadmap are at the sole discretion of Oracle, among other processes. 

 

Nigeria CommunicationsWeek believes that technology makes life more exciting and helps improve the lives of people around Nigeria and indeed the world. So since 2007, we have devoted our energy to independent reportage of technology and how they affect lives.

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E-Business

Visa Launches ID Intelligence for Smarter Customer Authentication

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Visa has launched Visa ID Intelligence, a platform that lets issuers, acquirers and merchants quickly adopt emerging authentication technologies, according to a press release.

Available through Visa Developer Platform, Visa ID Intelligence offers a curated selection of third-party authentication technologies that feature simple integration with Visa APIs and SDKs. This allows clients to create, test and adopt new authentication solutions.

This ultimately helps financial institutions and merchants to adopt effective and secure solutions and accelerate time-to-market with streamlined on boarding and implementation through Visa as a single trusted source, the company said.

Visa ID Intelligence features include: Identity Documents— the platform evaluates identification documents and matches selfies to photo IDs, while extracting document information and converting it into digital form.

Uses include creating new accounts, and performing password reset and lost or stolen card replacement.

-Biometrics — Visa ID Intelligence allows clients to use eye, face, fingerprint and voice to meet consumer needs for convenience, security and speed in authentication.

Uses include app login, payments, step-up authentication, and more.

“Traditional methods for authenticating a customer can create frustration or are simply not designed for the new ways people are shopping and paying. We built Visa ID Intelligence to help accelerate smarter and easy-to-use authentication solutions for any commerce environment — to better protect against fraud and to move closer to a world without passwords,” Mark Nelson, Visa senior vice president of risk and authentication products, said in the release.

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ESET Works With Google To Protect Chrome Against Dangerous Malware

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By peter oluka

ESET, a leading global cybersecurity company, on Thursday launches Chrome Cleanup, a new scanner and cleaner for Google Chrome designed to help users browse the web safely and without interruption.

Chrome Cleanup will be available for all Google Chrome users running on Windows.

As cyber-attacks become more complex and difficult to spot, browsing the web can lead users to dangerous sites which can install malicious software onto devices.

Chrome Cleanup will alert Google Chrome users to potential threats when it detects unwanted software.

Google Chrome will then give users the option to remove the software. Chrome Cleanup operates in the background, without visibility or interruptions to the user. It deletes the software and notifies the user once the cleanup has been successfully completed.

“Using the internet should always be a smooth and safe experience for everyone,” said Juraj Malcho, chief technology officer at ESET. “For three decades, ESET has developed a number of security solutions that allow users to safely enjoy their technology and to mitigate a variety of cyber threats. Chrome Cleanup addresses unwanted software that can negatively influence a users’ experience on the internet.”

Chrome Cleanup is included in the latest version of Google Chrome. For more information about these tools, read Google’s blog post, here.

For 30 years, ESET® has been developing industry-leading IT security software and services for businesses and consumers worldwide.

With solutions ranging from endpoint and mobile security, to encryption and two-factor authentication, ESET’s high-performing, easy-to-use products give consumers and businesses the peace of mind to enjoy the full potential of their technology.

ESET unobtrusively protects and monitors 24/7, updating defenses in real-time to keep users safe and businesses running without interruption. Evolving threats require an evolving IT security company.

Backed by R&D centers worldwide, ESET becomes the first IT security company to earn 100 Virus Bulletin VB100awards, identifying every single “in-the-wild” malware without interruption since 2003.

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A Buyer’s Market in the Global Economics of DDoS Attacks

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It’s a buyer’s market in the local property arena at the moment, according to certain industry experts.

 

This is largely as a result of the slower economy, which has seen a rise in the number of properties for sale.

 

But did you know that globally, it’s a buyer’s market as well when we look at the economics of Distributed Denial of Service (DDoS) attacks? The second, of course, is an underground market, largely regarded as a criminal one.

 

So said Bryan Hamman, Arbor Network’s territory manager for Sub-Saharan Africa.

 

Referring to recently released information from Arbor Networks, he said, “It is interesting to analyse the current economics in global DDoS attacks, which are attempts to make an online service unavailable by overwhelming it with traffic from multiple sources. Most people who are aware of DDoS attacks understand that there will be a perpetrator and a target.

 

“However, we’re now seeing a growing number of third-party providers of DDoS attacks as a service, who advertise their abilities online in order to either sell would-be attackers access to the tools needed to conduct a DDoS attack, or who perform the attack themselves on the customer’s behalf and provide reports afterwards.”

 

Hamman noted  that the fees of these underworld providers are lessening, due to rapidly expanding competition and the supply of readily available attack resources such as botnets. As a result, he says, the DDoS business is currently a buyer’s market.

 

Arbor reported that the prices for attack services, sometimes called “stressers” or “booters” vary widely, as do estimates of the total cost of an attack to the victim. But the economics are simple: DDoS attacks are becoming cheaper than ever for the perpetrator; are extremely lucrative for the attack service provider, and potentially financially devastating for the target.

 

Arbor noted that an increasing number of operators resemble legitimate service provider infrastructures with significant computing power, typically running their own botnet armies to unleash DDoS attacks. Perpetrators can essentially rent the providers’ botnets by the hour, day or week, or in some cases can buy a specific number of bots outright. The mechanics of transactions follow a classic web service model, meaning the perpetrator and the provider need never come in contact.

 

Providers that conduct attacks-as-a-service even post their services online, with tiered pricing reflecting the different types of attack that they offer. Prices are based on several factors. They can include the duration of the attack, the perceived value of the target, the country in which the attack takes place and/or the different methodologies employed.

 

In Arbor Networks 12th annual Worldwide Infrastructure Security Report, 59 percent of respondents estimated their downtime costs as being more than USD500/ minute in lost revenue (some ZAR6,700 per minute with the rand/dollar exchange rate on around ZAR13.50 to the dollar), with some indicating even higher losses. This also does not factor in the costs of repairing the damage, potential legal costs of settling with customers denied service, or reputational damage to the company’s brand.

 

Hamman concluded, “Here in South Africa, we may not yet face the overtness of DDoS operators advertising their services, as can be seen in the US. However, this does not mean that local companies shouldn’t be vigilant against DDoS attacks – protection is more vital than ever. A hybrid solution that combines on-premises and cloud-based protection is the industry best practice in DDoS defence. When you accept that DDoS attacks aren’t going away, and in fact are projected to escalate, it makes the best economic sense of all to make sure that you are adequately prepared against a DDoS attack.”

 

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