Decision Nº M/05/048 from Competition and Consumer Protection Commission, 2005-09-02

Decision NumberM/05/048
Partiesi-flex solutions ltd.,Oracle Corporation
StatusPreliminary investigation (Phase 1)
Determination No. M/05/048 of the Competition Authority, dated 2nd September
2005, under Section 21 of the Competition Act, 2002
Notification No. M/05/048 – Proposed acquisition by Oracle Corporation of i-flex
solutions limited
1. On 5th August 2005 the Competition Authority, in accordance with Section 18
(1) of the Competition Act, 2002 (“the Act”) was notified, on a mandatory basis,
of a proposal whereby Oracle Corporation (“Oracle”) would acquire i-flex
solutions limited (“i-flex”).
The Parties
2. Oracle is active in the design, development, manufacture and distribution of
enterprise application software, database and application server software and
related services. It operates one subsidiary in the State and generates turnover
here of €46.32m. Its offerings in the financial services industry are more limited
and it generated c. €2m sales to customers in this sector the most recent
3. i-flex is a company listed on the Bombay Stock Exchange. It offers solutions
specifically developed for banking institutions. Its flagship product Flexcube
offers a comprehensive range of packaged solutions addressing the transaction
processing, accounting and internet delivery needs of a wide range of financial
institutions. i-flex does not have any offices or subsidiaries on the island of
Ireland but generates turnover here of €1.6m.
4. There is minimal overlap in the activities of the parties. i-flex estimate that their
share of core banking applications globally is c.2%. There are a number of other
providers of core banking solutions that are based in Europe. The transaction
does not therefore give rise to competition concerns.
The Competition Authority, in accordance with Section 21(2) of the Competition Act,
2002, has determined that, in its opinion, the result of the proposed acquisition by
Oracle Corporation of i-flex solutions limited will not be to substantially lessen
competition in markets for goods and services in the State and, accordingly, that the
acquisition may be put into effect.

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