Just when the Long Island business community was getting accustomed to the name FatWire Software, the moniker will disappear once Oracle Corp. takes control, but chief executive Yogesh Gupta expects to stay on.
California-based Oracle, one of the world's largest computer and technology companies, announced earlier this week that it will acquire Mineola-based FatWire, a company started in 1997 in an Oyster Bay Cove home, and which has grown into a $40-million-a-year business.
Gupta said the FatWire name will disappear once Oracle takes over. "Oracle is the brand name that represents what Oracle is," said Gupta, who became FatWire's chief executive in 2007 after serving as a top executive at Islandia-based CA Technologies. Gupta said he expects to remain. "But my role will obviously change," Gupta said.
He said he expects Oracle to leave the local company in place and the tech giant may even make investments in FatWire, which has about 200 employees. The terms of Oracle's purchase were not disclosed.
"We've done really well over the past few years, but there's only so far you can go as a small company," Gupta said. "We see a tremendous opportunity in being part of a large company."
Last year Oracle said revenues were about $26 billion, a 15 percent increase over the previous year. Oracle has more than 370,000 customers worldwide.