Oracle begins courting I-flex Indian firm makes world's best-selling banking software

July 28, 2005

When Oracle Corp. took over PeopleSoft last year, it said it wasn't finished acquiring companies. The latest news has Oracle negotiating to buy a controlling stake in I-flex Solutions, an Indian firm that makes the world's best-selling banking software.

A source familiar with the deal said that Oracle has been talking with Citigroup, which holds a 43.1 percent stake in the firm, but that the deal is "not on the front burner now."

The article continues at http://www.sfgate.com/cgi-bin/article.cgi?file=/chronicle/archive/2005/07/28/BUG8RDUGKR1.DTL&type=tech