Oracle CFO: no acquisitions needed to compete in cloud
SAN FRANCISCO (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 television 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.
Ellison 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 his company 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.
Oracle's strategy is to offer its customers complete cloud-computing packages, including operating systems, databases and software, and the hardware infrastructure needed to run them.
Santa Clara, California-based Oracle unveiled new cloud products at Oracle's annual users conference this week in San Francisco. They included an updated version of its top-selling corporate database along with high-end computers designed for the cloud.
Oracle estimates some 50,000 corporate executives and technology workers attended the conference.
(Reporting by Noel Randewich; Editing by Tim Dobbyn)
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