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Oracle to Create Wireless Internet Portal

The company, called, is a wholly owned subsidiary of Oracle.
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said Tuesday it had started a new company that will offer consumers a wireless Internet portal.

The company, called

, is a wholly owned subsidiary and began offering the portal Tuesday. Oracle said it has formed a strategic alliance with



to provide key wireless services to the new unit.

" turns your cell phone into an Internet appliance," said Lawrence Ellison, chairman and chief executive of Redwood City, Calif.-based Oracle, which called the first comprehensive consumer wireless portal.

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Oracle named Denise Lahey, who previously headed Oracle's Mobile Products division, as chief executive of the new unit, which Oracle plans to spin off at some point as a public company.

The software giant said it has joined forces with big online players such as

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, which will offer their services via the new portal.

Oracle was up slightly on the news, rising 5/8, or 1.3%, to close at 59 5/16 on Tuesday.