"We view this morning's Micros deal as just the start of what we expect will be a surge of M&A activity for Oracle over the coming year ...," FBR Capital Markets analyst Daniel Ives wrote in a note to clients.
"It is clear to us that the company needs to quickly put more 'growth fuel in its engine' to catalyze growth in the top-line," Ives said.
Read MoreOracle earnings, revenue miss estimates; shares plunge
Larry Ellison-led Oracle's spree of acquisitions has slowed of late. Micros is the company's largest acquisition since its $5.6 billion purchase of Sun Microsystems in 2009.
Oracle said on Monday it offered Micros shareholders $68 per share, representing a premium of 3.4 percent to the stock's Friday close. (Click here for the latest quote.)
Micros shares were trading at $67.87 a few minutes after the opening on Monday. Up to Friday's close, they had risen 14 percent since Bloomberg reported on June 17 that the companies were in talks.