GO
Loading...

Oracle's Ellison: focus on Cloud, not acquisitions

Tuesday, 2 Oct 2012 | 5:06 PM ET

BOSTON/SAN FRANCISCO, Oct 2 (Reuters) - Oracle Corp CEO Larry Ellison said the company will focus on driving organic growth through a new suite of cloud computing software versus pursuing major acquisitions for now, though he would not rule out a big deal "down the road."

The billionaire, who has led the company he founded for more than three decades, would not identify potential successors, but said there were "a lot of people" who could take his place. He spoke in an interview with TV business channel CNBC.

Oracle has pursued growth through major acquisitions but is now trying to catch up with younger rivals including Salesforce.com Inc and Amazon.com Inc , which have made swifter inroads selling software and computer services to businesses over the Internet.

(Reporting by Jim Finkle and Edwin Chan)

((eddie.chan@thomsonreuters.com)(+1 415 677 2533)(Reuters Messaging: eddie.chan.reuters.com@reuters.net))

Keywords: ORACLE ELLISON/

  Price   Change %Change
ORCL
---
CRM
---
AMZN
---