Oracle Financial Services Software has entered into a definitive agreement with a global bank headquartered in the USA to license certain software products in perpetuity. The transaction, estimated to be worth approximately USD 100 million (₹940 crore), includes the provision of transition services and personnel.
The consummation of the proposed transaction is contingent upon the fulfilment of certain conditions precedent by May 29, 2026. These conditions include factors that may be outside the control of Oracle Financial Services Software. The agreement will supersede existing software license, professional services, and support agreements with the customer.
The company has committed to notifying the exchanges regarding the status of the fulfilment of these conditions and the completion of the transaction. Subject to the closing of the transaction, the transition services are expected to be provided over a period of six to nine months, under mutually agreed terms.
The agreement represents a significant international commercial contract for Oracle Financial Services Software, with no involvement of the promoter group or related party transactions.
Disclaimer: This article is based on a regulatory filing submitted to the National Stock Exchange of India (NSE).