Oracle Corp. (Nasdaq:ORCL) today inaugurated its new R&D center in Petah Tikva, its first center in Israel. The center is based on the technology and personnel of start-up Demantra, which Oracle acquired in May 2006 for $41 million.
The R&D center will supply Oracle with Demantra’s demand forecasting applications. Oracle Demantra VP development Bart Feldman said that the center would integrate Demantra’s products with Oracle CRM applications acquired from PeopleSoft and ERP applications acquired from Siebel Systems.
Oracle Israel managing director Moshe Horev said that the company would invest $2-3 million in at least eight other Israeli companies this year. Oracle has already invested in four Israeli companies. The investments are made through Oracle Israel’s center for excellence, where the company collaborates with the Office of the Chief Scientist, matching the latter’s investments in start-ups. Oracle does not make financial investments, but provides equipment.
Horev said, “The development center will have 10-15 companies this year. Oracle constantly thinks how to exploit local human capital, and the acquisition of Demantra fits in with this concept. Paralleling the investments, we’re constantly examining other acquisitions in Israel.”
Published by Globes [online], Israel business news - www.globes.co.il - on February 13, 2007
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