Oracle president Safra Catz is due to visit Israel in a few weeks, and her visit will include a significant business measure.
Sources inform ''Globes'' that Catz is due to participate in discussions between Oracle Corp. (Nasdaq: ORCL) and Israel Credit Cards-Cal Ltd. (ICC-Cal) (Visa), run by CEO Boaz Chechik and jointly owned by Israel Discount Bank (TASE: DSCT) and First International Bank of Israel (TASE: FTIN1;FTIN5), concerning the computerization project that Oracle is carrying out for ICC-Cal. Catz has taken personal responsibility for Oracle's participation in this project. If her intervention cannot bridge the gaps between the parties, the project could be terminated.
Oracle is due to replace and upgrade ICC-Cal's core computer systems, especially those pertaining to the management of credit cards. ICC-Cal will have to replace its systems over the next few months. The company initiated the project 18 months ago, and it is one of Israel's largest projects of its kind. The three-year project will cost $25 million. Sources at ICC-Cal said that they had examined various systems over eight months before signing the contract with Oracle.
The project is unique not only because of the complexities ICC-Cal had specified, but also because of the demands of Oracle. Oracle has no off-the-shelf product for the credit card market, so ICC-Cal VP and head of information systems Ronit Rubin asked the company to develop it on its own, without an external integrator such as Matrix IT Ltd. (TASE:MTRX) or Ness Technologies Ltd. (Nasdaq: NSTC).
For Oracle, which usually provides products, but almost always brings in external integrators to provide peripheral services. The individual involvement was an exceptional move, even in international terms.
ICC-Cal said in response that Catz will meet Chechik and Rubin during her visit. The company added, "ICC-Cal's management is satisfied with Oracle's level of professionalism, willingness, and commitment to the project. ICC-Cal is studying and testing the solution's capabilities, timetables, and costs. We're in the advanced negotiations stage for such a complex project, and both parties are moving toward closing gaps."
Published by Globes [online], Israel business news - www.globes-online.com - on June 3, 2009
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