Par Globes
Rubrique: Hi-tech & innovation
Publié le 5 juin 2006

Oracle set to make first acquisition in Israel
The US software giant will pay $41 million cash for Demantra, a planning solutions company.

Sources inform ’’Globes’’ that software giant Oracle (Nasdaq: ORCL) is set to acquire Israeli high-tech company Demantra for $41 million in cash.

Demantra has raised a total of $42 million since it was founded. Most of Demantra’s investors will see only a marginal return on their investment, save for two venture capital firms, Advent International and Formula Ventures, which will make a 50% return on their money. Advent and Formula Ventures, which is managed by Shai Beilis and Nir Linchevski, participated in Demantra’s third financing round. At the same time as the financing round, the company was restructured and recapitalized.

Sources inform ’’Globes’’ that Advent invested $15 million and will receive $24 million, while Formula Ventures invested $6 million and will receive $9 million. The remaining $17 million will be divided among the other investors and the the company’s management and employees.