Columbia-based Micros Systems gets boost from ValueAct acquisition

March 12, 2013|Bloomberg News

Micros Systems Inc., a maker of software for the hospitality and retail industries, jumped its most in 18 months Tuesday after ValueAct Capital Management disclosed a stake in the company.

ValueAct acquired 5.9 million shares, or a 7.5 percent stake, in Columbia-based Micros, according to a regulatory filing Tuesday.

Micros Systems increased 7.6 percent to $45.87 at the close in New York for its biggest one-day gain since Aug. 26, 2011. The shares had declined 21 percent in the past year through Monday compared with a 5 percent advance for the Standard & Poor's Midcap Information Technology Index.

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