Oracle to Create Wireless Internet Portal

The company, called OracleMobile.com, is a wholly owned subsidiary of Oracle.
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Oracle

(ORCL) - Get Report

said Tuesday it had started a new company that will offer consumers a wireless Internet portal.

The company, called

OracleMobile.com

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

Motorola

(MOT)

to provide key wireless services to the new unit.

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

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

Amazon.com

(AMZN) - Get Report

,

eBay

(EBAY) - Get Report

and

E*Trade

(EGRP)

, 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.