The fund will invest in next-gen networks, cloud computing, and IoT-enabled smart city tech, rather than fiber cables, data centers, and wireless towers.
“The enterprise software market is doing well. But it’s all about the cloud for Oracle. It’s about making that migration and Larry was really late doing that.”
The operator recently said it was expanding its data center footprint in cities including Mumbai, Noida and Chennai.
The investment, together with Onix Data Centres management team, will ramp up the size of the facility into the largest in the country.
“We’re starting to see the recovery in demand in IT spend. We see signs of stabilization in the core business.”
Quarterly revenue report topped analysts' estimates bolstered primarily by continued strong demand for personal computers.
Reporting earnings, its CFO said most of the growth this quarter will come from gaming, creating concern that that spells slower growth for the data center division.
The combined company is slated to be worth about $2 billion and a deal is set to be announced in coming weeks.