An entrepreneur started a company that created a new point-of-sale (POS) system, took the company public, then got acquired by an entrenched Silicon Valley powerhouse.
It may sound like a startup story that you’ve read in the tech press before. But as TechBreakfast’s Ron Schmelzerput it after founder Lou Brown, Jr., spoke at ExecBreakfast on Thursday, Brown’s story is something of an “antidote to Silicon Valley.”
MICROS’ tale started in Maryland in the late 1970s, when the company was called IDEAS and looking to contract with the government. After identifying restaurant POS systems as a better business opportunity, the company became MICROS and expanded to the full hospitality industry. The company’s IPO was around the same time Applewent public. The acquisition by Oracle came when the company was worth well over $1 billion, but there was no unicorn designation, as it came in 2014.
Read more at Technical.ly Baltimore
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from http://baltimoretech.org/news/3-takeaways-on-startups-from-micros-founder-lou-brown-jr/
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