Oracle announced Monday that it plans to invest US$125 million in India's
I-flex Solutions, marking an increase in its ownership stake in the software
Oracle's pending investment in I-flex, which makes analytical software for the banking
industry, will increase its ownership stake to 55.1 percent from its previous
level of 52.5 percent.
Oracle has previously said that it wants to delve deeper into particular
industries, such as retail via
its buyout of Retek and logistics
and transportation management via its acquisition of G-Log.
The new money for I-flex, which is based in Mumbai, builds on a previous
Oracle investment announced a year ago. Oracle, an enterprise applications
and database company, purchased in August 2005 a 43 percent stake of I-flex held
by Citigroup Venture Capital International.
Oracle said it will also make an offer to I-flex investors to acquire up to
an additional 20 percent of the company, as required by Indian law.