Northstar BrigadeMarch 17, 2010
Oracle India, which was in discussion with Brigade, a Bangalore-based Group, for a 1.2-million square feet trade space in its Brigade Gateway
project, has lost the deal. The office space in Brigade Northstar,a tower complex with 30 floors within Brigade Gateway,to amalgamate its several leased spaces in Bangalore was the next plan of the IT major, Oracle.
But, through an email, it informed its employees that Oracle has decided not to badger this location any further since the deal is off. Around 8000 employees were likely to be transfered to the Northstar facility but the deal crashed.
Northstar is a part of Brigade Group’s 40-acre township called Brigade Gateway and includes apartments, Sheraton Hotel, malls and Columbia Asia Hospital.
It could have been one of the major deals if it would have been made. Brigade could make a profit of Rs. 600 cr. from this deal. Oracle was following Brigade since last six months but the deal could not get through since the differences over in the prices could not be waved off.
In around 12 months from November 2009, the first team will be shifted to the new location was the upcoming plan of Oracle. Centralising its common operations and administrative functions was another hope.
