Oracle not to merge with i-flex

To leverage individual reach & lines.

Oracle Corporation has no intentions to integrate the operations of recently acquired i-flex solutions with itself, as the global IT products major believes that this is a 'one-time investment'.

The two, however, intend to leverage their individual reach and jointly market products locally and overseas.

"At present, we have no intention to merge the operations of both the companies, even though we will look at going to market together. We will look at jointly marketing our products and expanding customer and product bases," Krishan Dhawan, managing director, Oracle India, told reporters on Saturday.

The Mumbai-headquartered i-flex will function as an independent company and will have Oracle members on its board. Oracle will also resell i-flex's top-selling core banking solution, Flexcube, across the globe, he added.

Earlier in December, Oracle had announced that it would resell i-flex's Reveleus Basel II suite, a business analytical application. This was expected to add 'feature-rich functionality' to Oracle's enterprise risk management and compliance platforms.

Apart from Flexcube and Reveleus, Daybreak, an enterprise consumer-lending suite, and Primesourcing, a range of software, consulting, development and support services, are other major products of i-flex.

In August, Oracle had invested $909 million to acquire 43 per cent stake in i-flex, which employs over 6,200 people worldwide. Oracle president Charles Phillips had joined the acquired i-flex's board.

The corporation is also increasingly focusing on India and China, the two fastest growing countries in Asia-Pacific, which accounts around 10 per cent of its global revenues.

In India, the company will focus on verticals such as e-governance, financial and service sectors, manufacturing and telecommunications.