Fatwire Software, a company started in an Oyster Bay Cove bedroom in 1996 by two young entrepreneurs that is now a $40-million business, was sold Tuesday to giant Oracle Corp., Oracle has announced.
Terms of the deal were not disclosed.
Mineola-based Fatwire, which makes software that helps companies and organizations deliver and manage content on their Websites, has about 200 employees. Fatwire is privately held.
In a statement, Oracle, one of the world’s largest software companies, said Fatwire’s technology compliments Oracle’s products, including Oracle customer relationship management and ATG Web commerce. Oracle said the deal is expected to close in the middle of this year. Until it does, each company will continue to operate independently.
Fatwire was started by Mark Fasciano and John Murcott, in a bedroom of Fasciano’s parents home in Oyster Bay Cove. They sold the company to investors in 2007. That same year, Yogesh Gupta, a longtime technology veteran, was named president and chief executive. Gupta had spent years as Computer Associates International in Islandia, now CA Technologies.
Gupta remains Fatwire’s president and chief executive.
One of Fatwire’s early breaks came when it received a contract for its software from IBM. Fatwire became one of Long Island’s fastest-growing companies, with sales now about $40 million annually.
A source knowledgeable about the company said Fatwire’s workforce is expected to remain “stable.”
Oracle and Fatwire officials did not immediately return calls.
Photo: Yogesh Gupta at FatWire headquarters. (Jan. 11, 2008)
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