Ing C Olivetti & Co SpA and Oracle Corp’s Cambridge, UK-based Research Laboratory has nearly completed the latest stage of its expansion which will see it become one of the leading information technology research centers in Europe. Some 20 new engineers will be recruited to work at the center which has an annual research budget in excess of 4m pounds. A long term equal funding agreement with Olivetti means Oracle will have joint rights to use intellectual property rights generated in the laboratory, as well as share in the financial proceeds from technology licensed to third parties or spun out into new companies.
