Under the deal, I-flex., Oracle has acquired Citigroup Venture Capital International's stake in the enterprise applications company. This gives Oracle a 43 percent total stake in
Oracle's purchase of the I-flex stake marks its latest effort to delve deeply in specific industries, which has included theand .
I-flex develops analytical software for the banking industry and offers related professional services. Its products include Flexcube, a Web-based applications bundle designed to automate tasks from retail banking to bill payment.
I-flex, based in Mumbai, India, will continue to operate as an independent company and has appointed Oracle Co-presidentto its board of directors.