EXHIBIT 21.1



Subsidiaries of the Registrant



|                              |  |                                                                     
|----------------------------- |  | --------------------------------------------------------------------
|Jurisdiction of Incorporation |  | Corporate Name                                                      
|Argentina                     |  | Portal Software Argentina S.R.L.                                    
|Australia                     |  | Portal Software International Pty Limited                           
|Bahrain                       |  | Portal Software Solutions, Inc. Branch of Bahrain                   
|Beijing                       |  | Portal Software (Asia Pacific) Limited Beijing Representative office
|Brazil                        |  | Portal Software Brasil (Limitada)                                   
|California                    |  | Portal International Holdings, Inc.                                 
|Canada                        |  | Portal Software Canada Inc.                                         
|Cayman Islands                |  | Portal Software Cayman Islands, Inc.                                
|Cayman Islands                |  | Portal Software Cayman Islands L.P.                                 
|Delaware                      |  | Portal Software Cayman Islands (U.S.) LLC                           
|Delaware                      |  | Portal Software Solutions, Inc.                                     
|Delaware                      |  | Portal Software Technology, Inc.                                    
|England and Wales             |  | Portal Software (Europe) Limited                                    
|France                        |  | Portal Software France                                              
|Germany                       |  | Portal Software Germany GmbH                                        
|Germany                       |  | Portal Solution GmbH                                                
|Germany                       |  | Portal Software (Hamburg) GmbH                                      
|Hong Kong                     |  | Portal Software (Asia Pacific) Limited                              
|India                         |  | Portal Information Technology India Private Limited                 
|Italy                         |  | Portal Software Italia S.r.l.                                       
|Japan                         |  | Portal Software Japan K.K.                                          
|Kuala Lampur                  |  | Portal Software (Asia Pacific) Limited                              
|Mexico                        |  | Portal Software Mexico, S. de R. L. de C.V.                         
|The Netherlands               |  | Portal Software Netherlands B.V.                                    
|Poland                        |  | Portal Software Poland Sp.z o.o                                     
|Shanghai                      |  | Portal Software (Asia Pacific) Limited                              
|Singapore                     |  | Portal Software (Asia Pacific) Limited                              
|South Korea                   |  | Portal Software Korea Limited Company                               
|Spain                         |  | Portal Software Informática S.L.                                    
|Spain                         |  | Solution 42 Ibérica S.L. (currently undergoing dissolution)         
|Sweden                        |  | Portal Software Sweden AB                                           
|Switzerland                   |  | Portal Software International Sàrl                                  
|Taiwan                        |  | Portal Software Taiwan Limited