Financial Daily from THE HINDU group of publications
Wednesday, May 04, 2005
Financial Daily from THE HINDU group of publications Wednesday, May 04, 2005 |
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Info-Tech
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Mergers & Acquisitions Oracle to acquire PeopleSoft centres in Bangalore Our Bureau
Bangalore , May 3 ORACLE today announced that it has exercised its purchase options to acquire PeopleSoft development centres based in Bangalore, which are being operated by Hexaware Technologies and Covansys Corp. The purchase options originally granted under agreements entered into PeopleSoft in 2003 were acquired by Oracle in connection with the PeopleSoft acquisition in January 2005. The transfer of the two centres is scheduled to be completed in October 2005 and the employees are expected to become employees of Oracle, according to an Oracle release. Hexaware Technologies offers enterprise solutions, application management, EAI, e-commerce and embedded systems. It caters to the airline, banking and financial services, insurance, and healthcare industries. Covansys is a global consulting and technology services company specialising in industry-specific solutions, strategic outsourcing and integration services.
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