Mumbai, April 4, 2008 - The Board of Directors of i-flex solutions Ltd. (Reuters: IFLX.BO & IFLEX.NS) at its meeting held today in Mumbai, approved a proposal to change the name of i-flex solutions Ltd. to Oracle Financial Services Limited, subject to regulatory and shareholder approvals.
The proposed new name reflects the company's close strategic and operational alignment with its parent, Oracle Corporation, which owns 81 percent of the company. Oracle is the #1 enterprise software provider and counts 10 of the top 10 banks, insurance companies and securities firms among its more than 8,500 financial services customers across 145 countries.
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