Larry Ellison is so bullish that his company just took over iFlex as their third biggest acquisition of the year. After PeopleSoft and Profit Logic, CitiBank’s Tech group iFlex will be controlled by Oracle.
Earlier this year when Oracle took over PeopleSoft, I wasn’t sure of their plans. Having been in the PeopleSoft Data Warehousing consulting arena, close to 4 years, I had vested interests in PeopleSoft being taken over by another ERP giant. Not anymore. Because it seems like the consolidation is truly becoming the order of the day. And I’ve matured over the time to think mergers, consolidations and hostile takeovers are all fine until they do good for customers and shareholders. At the end of the day if the customer gets a better software solution, any thing is fine because business these days does not bother too much of ethics.
Having worked in Citibank for a short period of time, I have worked alongwith iFlex people even before, when it was called as CitiCorp. And I have to say, buying out iFlex is only going to do good for Oracle. IFlex has one of the best banking software in India. My buddies keep saying that iFlex’s Flexcube is much powerful than Infosys’ Finacle and Temenos’ Globus. But i’m not taking a guess at it. Whatever be it, banking is one area were software services never stop growing. We have been witnessing the growth of Polaris over the last few years given the fact that most of their client are in the banking industry. Larry Ellison’s this move is certainly startegic and would reap fortunes for Oracle. So the next time iFlex sells a thousand installations of Flexcube, Oracle dB comes along with it. Neat, isn’t it ?.
Despite the growing contention over him, Larry is certainly Oracle’s Oracle. He just made Oracle Inc as India’s largest enterprise vendor. Need say more.
10 responses to “Oracle’s Oracle”
Happy to hear your comments on iflex, considering I have been with them since the time they were called CITIL.
Well, it definitely is a great deal for Oracle, but will iflex lose its brand equity and become another part of the Oracle suite ?
Oracle is getting very greedy.
in fact,all big companies are getting bigger and meaner.
as long as Oracle supports all the applications of the companies it has acquired it is fine…It is a pain for the customers if they are forced to migrate to oracle..We will have to wait and watch to see if such a thing happens…
cool… so oracle is growing… 😉
Oracle getting iFlex too. hmm.. sounds good make sense hmm.. hmm..
You are really a geek, movies, novels, techies, stats… really wonder how do you manage all these including blogging…
BTW now people know abt the stats on ur DWH exp & companines. so I expect that u get many work offers 🙂
narasi, thats not the reason of writing those info. infact it is one of the few times i said something about my work.
btw, if i get any i will route it your way. i am doing cool 😉
I know this infro first thru CNBC TV 18 and they recommend the share holders of iFlex to retain it.
I somehow feel that this move would do good for Iflex. Generally speaking, most of the big banks which hear that Citigroup has controlling stake in the product company, could shy away from making a purchase decision due to the very fact that they may be in direct competition with Citi in certain banking domains.
lazy, think u r too lazy to provide the correct company link its
http://www.iflexsolutions.com/ and not http://www.iflex.com
Guru, Oracle acquired Retek few months back. So iFlex is their fourth acquisition this year.
Will they acquire Siebel or SalesForce.com … there are rumours about it. Let us wait and watch.
What do you do for a living? Are you a PS EPM consultant?