The company also planning to develop new B2B, B2C products and an exclusive business intelligence portal and will launch the proof-of-the concept site within six months to one year, said Bala R Thumma, CEO, Magma Solutions. "The engines of our e-business are procurement, auctions, exchanges, logistics and Web-casting. For the efficient performance of the engines, the company is strengthening the business intelligence and data warehousing, Thumma said.

"Our endeavour is to develop these intelligence solutions and market it for corporate houses and productise the solutions down the line, he said adding this is basically for small corporates, who may find it difficult to have their own arrangement", he said. He said Oracle Corporation has picked Magma Solutions Inc, the marketing arm of the Indian outfit, as one of the 20 solutions provider for its iSpeed initiative. Magma Solutions Inc, a different entity, has entered into an agreement with Magma India, under which the Indian company will be the software powerhouse for the US company, he said.