OPPORTUNITIES THROUGH ORACLE'S HALEY ACQUISITION
On October 29, 2008, Oracle announced it has entered into an agreement to acquire RuleBurst Holdings Limited, the parent company of Haley Limited (Haley), a leading provider of policy modeling and automation software for legislative and regulated industries such as public sector, financial services and insurance. The transaction is subject to stockholder and governmental approvals and other customary closing conditions and is expected to close in the first calendar quarter of 2009. Until the deal closes, each company will continue to operate independently.
Haley has over 20 years experience in delivering complex policy automation software for industries that are a focus for Oracle, including public sector, financial services and insurance. Haley's leading applications empower business users to translate legislation and policy into automated business rules using natural language to enable self-service, automate advice, ensure compliance and mitigate risk for policies enterprise wide.
The combination of Haley's products with Oracle's ERP, Siebel CRM, and Oracle's industry applications is expected to create the first packaged software solution for social services agencies with an enhanced case management application utilizing Haley to drive eligibility determinations. Financial services customers are expected to more effectively manage the business rules that govern trading, lending, underwriting, claims, origination and fraud prevention. Insurance customers are expected to be able to optimize complex underwriting through multi-variable "what-if" capabilities, apply business logic to highlight high-risk claims and make improved claim adjustments.