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Oracle on Tuesday announced that it has exercised purchase options to acquire PeopleSoft development centres based in Bangalore, India, operated by Hexaware Technologies Ltd. and Covansys Corporation.
The purchase options, originally granted under agreements entered into by PeopleSoft in 2003, were acquired by Oracle in connection with the acquisition of PeopleSoft, Inc., in January 2005.
The transfer of the two centres is scheduled to be completed in late October 2005; employees of these two centres are expected to become employees of Oracle.
Hexaware Technologies, a SEI CMMI Level 5 global IT services provider specialises in enterprise solutions, application management, EAI, e-commerce, and embedded system.
Hexaware provides software services to the airlines, banking and financial services, insurance and healthcare industries.
Hexaware's global offices are located in New Jersey, Boston, Chicago, and San Jose in the United States; Toronto and Montreal in Canada, the United Kingdom, Germany, Netherlands and Belgium in Europe and Singapore in Asia-Pacific; and Mumbai, Bangalore and Chennai in India.
Headquartered in Michigan, Covansys Corporation is a global consulting and technology services company specializing in industry-specific solutions, strategic outsourcing and integration services.
Clients gain competitive advantage by leveraging our unique on-site, offsite, offshore delivery capability to achieve rapid deployment, world-class quality and reduced costs.
A leader in the public sector market, Covansys is also known for application maintenance and development outsourcing in the healthcare, financial services, retail and distribution, manufacturing, telecommunications and high-tech industries.
Two of the company's three wholly owned development centres in India are assessed at Level 5 in SEI CMM®. All three are ISO 9001:2000 certified and assessed at Level 5 in PCMM.