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Pitango Venture Capital to sell stake in Convergin to Oracle

Pitango Venture Capital has agreed to sell its stake in Convergin to enterprise software firm Oracle.

Convergin makes software that lets telecommunications companies deliver services across multiple networks and platforms.

Both Pitango Venture Capital and Convergin are based in Israel, while Oracle is based in the US.

The transaction is expected to close in the first half of 2010.

The acquisition of Convergin will complement Oracle Communications’ product suite.

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