isn't planning on making any large acquisitions over the next couple of years and instead is focused on growing organically, CEO Larry Ellison said Tuesday on CNBC.
“We have all the assets in house to grow very rapidly on an organic basis,” Ellison told CNBC’s "Closing Bell."
(Read More:'Tremendous' Opportunities Ahead for Oracle: Hurd.)
Oracle has spent the last seven years rewriting all its applications for cloud computing, Ellison said, noting that “we provide our database in the cloud ... we’ve announced hardware designed for the cloud.”
Ellison also said that business is fairly good. “Our software business is growing and our engineered systems hardware business is growing at over 100 percent.”
The overall hardware business should also start showing growth again once the growth in the engineered systems business eclipses the decline in the legacy commodity hardware business , Ellison said. That should happen at the end of the current fiscal year.
“Underlying that complete suite of cloud applications, we have the world’s number one platform,” Ellison said. Oracle participates in all three layers of the cloud, applications, a platform and the underlying infrastructure, making it very hard for niche providers to compete.
With a pile of cash on the balance sheet, the Oracle CEO said that there could be potential acquisitions a few years down the road. He also expects Oracle to gradually raise its dividend as opposed to doubling or tripling it, but "nothing dramatic."
Turning to his personal spending, Ellison has been buying up houses and turning them into art museums. Having recently bought the Hawaiian island of Lanai, Ellison said "It's going to be model for sustainable enterprise."
Ellison also said that he'd love to buy the Los Angeles Lakers if they were for sale. "It's a very expensive way to get floor seats," he joked.