Although we don't believe in timing the market or panicking over market movements, we do like to keep an eye on big changes -- just in case they're material to our investing thesis.

What: Shares of MICROS Systems (NASDAQ:MCRS) jumped more than 20% early Tuesday following news that Oracle (NYSE:ORCL) was nearing a deal to acquire the company.

So what: Citing "people familiar with the matter," Bloomberg reported that Oracle is currently in exclusive talks to acquire MICROS for more than $5 billion. To be sure, MICROS' significant foothold in providing information systems solutions to the hospital and retail industries would effectively help Oracle offset more than two years of slowing growth. In its most recent quarter, MICROS Systems increased revenue 10.7% year over year in the first quarter, to $349 million. That translated to 16.1% growth in adjusted net income per share, to $0.72.

Now what: Keep in mind that this isn't a done deal just yet. Coincidentally, one of Bloomberg's sources even stated Oracle came close to acquiring MICROS Systems roughly six years ago, but that the deal ultimately fell through at the last minute. Also, MICROS Systems shares don't exactly look cheap given its $5 billion market cap, which means shares are trading around 31 time trailing 12-month earnings, and 24 times next year's estimates.

In the end, I wouldn't blame long-term investors for hanging in there, especially considering Oracle could provide additional upside with an even more generous offer. At the same time, there's no shortage of other promising places to invest for shareholders who take the money and run today.

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Steve Symington has no position in any stocks mentioned. The Motley Fool owns shares of Oracle. Try any of our Foolish newsletter services free for 30 days. We Fools may not all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. The Motley Fool has a disclosure policy.

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