Oracle, which is very popular in the US has decided to open up its first research and development center in Petah Tikva.
Although this is nothing new in Israel (as other companies have R&D centers in the promise land), what makes this unique is that it's based on an Israeli startup they purchased not too long ago.
(Globes Online) Oracle Corp. (Nasdaq:ORCL) today inaugurated its new R&D center in Petah Tikva, its first center in Israel. The center is based on the technology and personnel of start-up Demantra, which Oracle acquired in May 2006 for $41 million.
The R&D center will supply Oracle with Demantra's demand forecasting applications. Oracle Demantra VP development Bart Feldman said that the center would integrate Demantra’s products with Oracle CRM applications acquired from PeopleSoft and ERP applications acquired from Siebel Systems.
Oracle is already thinking about spending at at least $2 million in no less than eight other companies, and seems very satisfied with the kosher capital coming from Israeli citizens.
There is no word on whether or not they are hiring anybody, but I wouldn't be surprised if someone saw "wanted ads" in the Jerusalem Post for positions.
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