page_title: Oracle Financial Services Software
section_title: Oracle Corporation
hierarchical_section_title: Oracle Financial Services Software / History / Oracle Corporation
caption_attribution_description: English: source&#160;: iflex solutions
context_page_description: Oracle Financial Services Software Limited is a subsidiary of Oracle Corporation. It is an IT solution provider to the banking industry. It claims to have more than 900 customers in over 145 countries. Oracle Financial Services Software Limited is ranked No. 9 in IT companies of India and overall ranked No. 253 in Fortune India 500 list in 2011.
context_section_description: Oracle purchased Citigroup's 41% stake in i-flex solutions for US$593 million in August 2005, a further 7.52% in March and April 2006, and 3.2 per cent in an open-market purchase in mid-April 2006.
  On 14 August 2006, oracle financial services announced it would acquire Mantas, a US-based anti-money laundering and compliance software company for US$122.6 million. The company part-funded the transaction through a preferential share allotment to majority shareholder Oracle Corporation.
  On 12 January 2007, after an open offer price to minority shareholders, Oracle increased its stake in i-flex to around 83%.
  On 4 April 2008,  Oracle  changed the name of the company to Oracle Financial Services Limited.
  On 24 October 2010, Oracle announced the appointment of Chaitanya M Kamat   as Managing Director and CEO of Oracle Financial Services Software Limited. The outgoing CEO and MD, N.R.K.Raman retired from these posts after 25 years of service.
  Now Oracle Financial Services Software Limited is a major part of Oracle Financial Services Global Business Unit (FSGBU) under  Harinderjit (Sonny) Singh who is the Vice President & Group Head of Oracle FSGBU World Wide.
caption: Oracle Financial Services Software – Bagmane Tech Park, Bangalore
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