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Oracle wins Nato finance contract

By John Oates

Published: 12 March 1999 17:08 GMT

Oracle has won a contract to supply its financial software to Nato (North Atlantic Treaty Organisation). The deal covers the command and control department responsible for military procurement and budget control and is Nato's first integrated financial package.

The military group will use the package to run budgets on 20 sites in ten countries. The financial system and its associated a training programme are part of a general overhaul of information systems being carried out by Nato.

Siemens Business Services will carry out installation and testing of the system.

Oracle announced its latest results yesterday for the third quarter ending 28 February. Profits rose 36 per cent but were lower than expected and sent shares tumbling $6 to $30.88.

CEO, Larry Ellison reportedly blamed the disappointing results on the three-month delay to Oracle's 8i database.

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