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The acquisition gives Columbia-based Micros the ability to build Web siteas tomanage clients' sales and reservations made online. The company has in the past focused on processing salessfor retailers, restaurants and hotels at their cash registers, but has builtg up its online offerings so far this year. Micros (NASDAQ: handles online orders for about a fifth of its retailers but hopesz to grow that and also expand tohotep reservations, they said. "Adding Fry to the Microw portfolio enhances our ability to provide customers withadvancexd e-commerce solutions and technology necessary to operate retail Web Micros CEO A.L.
"Tom" Giannopoulos said in a "While Fry has historically targeted theretaill segment, its broad array of e-commerce servicew are applicable to all of the industries we Ann Arbor, Mich.-based Fry will remaijn a standalone entity that will fall within Micros' retail division, and its CEO David Fry will remaim president. David Fry and othee Fry shareholders are eligible for anadditionakl $17 million if the unit hits specifiedx revenue and profit targets. The deal includes $31.34 million in stock purchases and assumptionof $18.4 millionj in debt.
Micros Senior Vice Presidengt for Business Development and Investot Relations Peter Rogers said the acquisition will allow Microe to host and develop online systemsd for clients suchas Jos. A. Bank Clothierzs Inc. (NASDAQ: JOSB), who alreadhy use Micros to handle its Web Micros has about 500retail clients, and about 100 of them use Micros for their online Company officials also plan to add onlines services with its hotel clients, Rogers That could begin after Labor Day, he Micros melded subsidiaries Datavantage, CommercialWare and eOne Group withinb Micros-Retail in January.
Datavantage and CommercialWarre gave the company the ability to do more catalog and onlineorder processing, while eOne Group added more online capabilities.
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