Oracle Corp. (Nasdaq:ORCL) has invested in Israeli start-up Orcanos Ltd., a developer of software solutions for product development lifecycle management. Oracle is matching an investment by the Office of the Chief Scientist in the company. Oracle will provide $250,000 in products and support, corresponding to an investment in the same amount by the Chief Scientist.
Oracle and the Office of the Chief Scientist began cooperating almost two years ago, under an agreement between the company and the Israeli government.
Last year, Oracle Israel Ltd., run by managing director Moshe Horev, opened a center of excellence, which received nine companies, including four companies after joint investments. Two months ago, Horev said that Oracle plans to make at least eight investments in Israel for a total of $2-3 million.
Orcanos’s Qpack solution has been installed at a number of companies in Israel, Canada, and Germany.
Published by Globes [online], Israel business news - www.globes.co.il - on April 16, 2007
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