Mumbai, Sept. 13: Oracle Corp, the Redwood City, California-based database and application software company, is making an open offer to acquire 20 per cent of i-flex solutions at a price of Rs 1,475 per share. It now holds 55 per cent in i-flex.

DSP Merrill Lynch, on behalf of Oracle Global (Mauritius) (the acquirer), along with Oracle Corporation (person acting in concert) today issued a public announcement to i-flex shareholders that it is making an offer to acquire up to 16,629,023 shares comprising 20 per cent of its equity.

The offer would begin on November 6 and would close on November 25. Oracle would be spending close to Rs 2,453 crore on the offer.

On the BSE today, i-flex shares ended at Rs 1,439.25.

This offer comes only a month after i-flex announced that it will issue 4.447 million shares to Oracle Global (Mauritius) Ltd on a preferential basis at a price of Rs 1,307.50 apiece aggregating to Rs 581.4 crore.

The proceeds were to finance i-flex’s acquisition of Mantas Inc, a provider of anti-money laundering compliance software and services.

The company acquired US-based Mantas Inc in an all-cash deal for $122.6 million and it was done through its wholly owned US subsidiary, i-flex America Inc.

Earlier, Oracle held 52.5 per cent of i-flex, which rose to 55.1 per cent after issuing the preferential shares. In August last year, Oracle announced the acquisition of a 41 per cent stake from Citigroup in i-flex solutions, and in December, concluded the deal for an amount exceeding $900 million.

Early this year, Oracle had announced that it is increasing its total headcount to 10,000 in the country, apart from enhancing its presence here.

These additional resources will be in sales and marketing, product development, consulting, product, support and services.

While it is spreading to nine non-metro cities, the company has identified India both as a market and as a centre of product development.