Fergie's Tech Blog

Anti-Terror Posturing: Oracle Attempts to Flex Its Muscle

...and so it begins.

Michael Hickens writes on internetnews.com:

Oracle may be getting into the anti-terror business.

The company is contributing $125 million in capital to help subsidiary i-flex Solutions finance the acquisition of Mantas, an anti-money laundering and compliance solutions company based in the Washington, D.C., suburb of Herndon, Va.

I-flex, based in Mumbai, India, said it will use $122 million of those $125 million to acquire Mantas.

Barry Vasudevan, a spokesman for Mantus, told internetnews.com that Mantus will be paired with another i-flex subsidiary, Edison, N.J.-based Reveleus, which specializes in regulatory compliance and risk management.

Mantas' solutions, such as money laundering tool Behavior Detection Platform, play in a market estimated to be worth $20 billion by 2008, i-flex said in a statement.

posted by Fergie @ 8/14/2006 01:16:00 PM