Global Economics

Oracle to Boost Stake in India's I-Flex

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.

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