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Oracle Won't Be Making Any Major Acquisitions: Ellison

Tuesday, 2 Oct 2012 | 4:50 PM ET

Oracle

The Oracle logo is displayed on the company's world headquarters in Redwood Shores, California.
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The Oracle logo is displayed on the company's world headquarters in Redwood Shores, California.

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.”

Larry Ellison: Gradually Been Rewriting Applications for the Cloud
Larry Ellison, CEO of Oracle, speaks to CNBC's Maria Bartiromo about his company's plans for the Cloud, and where the computer industry is headed. "We completed a 7-year rewrite of all of our applications for the Cloud," he says.

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."

Larry Ellison: You Will See Gradual Dividend Increase
Larry Ellison, CEO of Oracle, speaks to CNBC's Maria Bartiromo about dividends and the homes he owns around the world that he converts into art museums. "You will see a gradual increase in dividends, nothing dramatic," he says.

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."

(Read More: Tiny Hawaiian Island Will See if New Owner Tilts at Windmills.)

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.

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