The Hindu Business Line : Oracle may pick up 7% stake in Empower

Mumbai, July 15Software multinational Oracle Corporation is understood to be in talks for picking up a 7 per cent stake in Empower Industries, which is developing software for mobile stock trading.

The Mumbai-based company is in the process of setting up a separate division for software writing. Currently, the company is manufacturing motherboards, network interface cards, electronic circuit boards, and other hardware products.

Oracle will pick up stake through the preferential route. According to a source, Oracle is expected to market Empower’s new software through its worldwide network. Oracle will also provide technical support to Empower from time to time for this new software.

For the BSE-listed Empower, which has a turnover of Rs 60 crore, the association with the Oracle brand name will ensure a fixed amount of business and larger visibility in the markets.

Capital base

Empower has a paid-up capital of Rs 50 lakh only and reserves of Rs 4 crore. The company is planning to significantly increase its paid-up capital.

Oracle plans to pick up stake through one of its sister concerns, whose name could not be ascertained. An Oracle spokesperson when contacted said that she could neither confirm nor deny the development, as the company does not comment on market speculation.

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