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

July 28, 2005

[From San Francisco Chronicle]

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."

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