Oracle considers services unit sale - report

Oracle considers services unit sale - report

Technology giant Oracle is looking to offload its Prime Sourcing software services unit, according to India's Economic Times.

Prime Sourcing is part of Oracle Financial Services Software (which was known as i-flex until 2008), helping banks implement and maintain the company's Flexcube system.

According to the Economic Times, citing sources, Oracle is now in early stages talks on disposing of the business, calling in Credit Suisse to help find a buyer.

A price of $400 million to $500 million has been floated for the unit, which has revenues in the region of $245 million, Ebit of $65 million, and a headcount of 8000.

"Oracle may also include implementation of the Flexcube suite of products, which is currently not part of the services business, to sweeten the offer," a person familiar with the discussions, told the ET.

Oracle may exit software services business as part of plans to divest non-core assets - Economic Times

Comments: (0)

Featured Job
All Jobs »
London, UK

Senior Sales, Collateral Management Solutions (London, covering EMEA)

Competitive base + bonus + benefit package

22 Jul