BRUSSELS, July 25 (Reuters) - European Union antitrust regulators will decide by Aug. 29 whether to clear world No. 2 software maker Oracle Corp's $5.3 billion bid for Micros Systems, the European Commission said on Friday.

The deal, Oracle's biggest in five years, is in line with Oracle's strategy to boost its fast-expanding cloud business. Micros makes point-of-sale hardware and software for restaurants and hotels.

The Commission can now either clear the deal unconditionally or demand concessions to resolve competition issues.

(Reporting by Foo Yun Chee; editing by Robin Emmott)