Oracle Financial Services Software Limited Secures Agreement with Global Bank for Software Licensing and Transition Services
March 26, 2026 - Oracle Financial Services Software Limited announced an agreement with a global bank headquartered in the USA for a proposed transaction involving software licensing and transition services. Under the agreement, Oracle Financial Services Software will license certain software products in perpetuity to the customer and provide transition services, personnel, and related aspects. The transaction is subject to conditions precedent that must be met by May 29, 2026. Existing software license, professional services, and support agreements with the customer will be superseded by this agreement.The company will provide updates on the fulfillment of the conditions and completion of the transaction.
The aggregate consideration payable to Oracle Financial Services Software for the transaction, excluding transition services, is estimated at approximately USD 100 million, equivalent to roughly INR 940 crore, based on current exchange rates. Transition services are expected to be provided for a period of approximately 6 to 9 months, subject to mutually agreed terms.
The following table summarizes the key details of the agreement:
| Detail | Information |
|---|---|
| Customer | A global bank headquartered in the USA |
| Terms & Conditions | Licensing of software products in perpetuity, provision of transition services, personnel, and related aspects; conditions precedent must be fulfilled by May 29, 2026 |
| Entity Type | International |
| Agreement Type | Commercial agreements |
| Execution Timeline | Subject to conditions precedent being met by May 29, 2026; transition services expected for 6-9 months |
| Consideration | Approximately USD 100 million (approx. INR 940 crore) |
| Promoter Interest | No |
| Related Party Transaction | Not Applicable |
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