August 14, 2006 7:58 AM PDT
Oracle to boost stake in Indian software firm
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.
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.