Oracle's CFO says no acquisitions needed to compete in cloud
SAN FRANCISCO |
SAN FRANCISCO Oct 4 (Reuters) - Oracle Corp has all the pieces it needs to compete in cloud computing but is always interested in looking at compelling M&A opportunities, Chief Financial Officer Safra Catz told investors.
Speaking at Oracle's annual investor day on Thursday, Catz said Oracle is now a one-stop shop for companies moving to cloud computing, while rivals like Amazon.com and Salesforce.com each offer some but not all of the necessary components.
Echoing comments by Oracle co-founder and Chief Executive Officer Larry Ellison to CNBC earlier this week, Catz said Oracle has no need for any big acquisitions, but left the door open.
"You know us, I'm a personal shopper for our CEO. When we find something that's really compelling that we think we can make a lot of money for all of you with, we're going to buy it," she said.
"We don't feel pressed to buy anything. We've got all the most incredible parts right now," she added.
Oracle was slow to embrace cloud computing, which is a broad term referring to the delivery of computer services via the Internet from remote data centers.
But Oracle is now rushing to promote its own offerings in the rapidly growing area and has also acquired several firms selling Internet-based software as its corporate customers embraced younger cloud rivals including Salesforce, Amazon.com and Google Inc.
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