Burdekin has taken a 40 per cent stake in the new company, ICE Interactive, with Oracle owning 15 per cent and US-based Liberate Technologies taking 10 per cent. The remainder has been kept for employee options.
"Burdekin will invest $15 million and acquire a 40 per cent stake in ICE Interactive," said Burdekin's chief executive, Gino Vitale.
The startup's newly appointed managing director, Carl Braden, said ICE would combine Oracle's Internet platform and applications with Liberate's software for enhanced TV. He said ICE's formation would stimulate the local interactive TV market through providing appropriate technology.
Interactive TV would "narrow the gap between the information rich and the information poor", Braden said.
ICE is believed to be in talks with potential customers, but officials would not reveal when the startup is expected to sign its first client.