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Burdekin buys into Oracle venture

WA-based venture capitalist Burdekin Resources Ltd has invested a 40 per cent stake in a new joint venture between Oracle Corporation Australia and US-based Liberate Technologies.

The new company, ICE Interactive, will facilitate interactive television in the Australian and New Zealand markets.

Traditionally a mineral producer and explorer, Burdekin Resources is currently establishing a diversified investment platform by providing venture capital for high-growth emerging technologies.

Recent activities include forming a partnership with Adelaide-based Netline Technologies Australia to develop and market email and Internet-based communications applications and the acquisition of 100 per cent interests in the Mt Kasi Gold mine in Fiji.

Burdekin shares were trading as low as 2 cents in September last year but shares reached 70 cents each on the first day of announcing the ICE deal.

Subject to shareholder approval, Burdekin plans to change its name to Burdekin Pacific Limited in March.

Interactive television is a major emerging market with predicted worldwide revenues of $25 billion in advertising and commerce by 2004, according to Forrester Research.

Oracle general manager for electronic business Stuart McLean said the company had spent the past twelve months beta testing the technology, undergoing trials and establishing the market’s readiness to accept interactive television.

ICE will incorporate Oracle’s Internet platforms and applications and Liberate’s software for enhanced television which will ultimately give viewers a way to immediately respond to what they see on their screen.

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