May 31, 2012 / 2:54 AM / 7 years ago

Oracle plans new cloud-based products, first Ellison tweet

Oracle CEO Larry Ellison delivers the keynote address at the 29th Oracle OpenWorld in San Francisco October 2, 2011. REUTERS/Susana Bates

(Reuters) - Larry Ellison, the billionaire chief executive of software maker Oracle Corp, said his company will launch a new suite of cloud-based software products and computing services the first week of June and he plans to send out his first tweet to announce the event.

Oracle, which gets most of its revenue by selling software that companies install in their own data centers, is far behind smaller software vendor Inc in the business of distributing its products via the Internet.

Oracle generates about $1 billion in annual revenue from Web-based software, Ellison said on Wednesday at a conference organized by All Things Digital. That is about a third what projects it will pull in during the current year.

The new cloud, or Web-based, products include a platform for building and running applications, databases and business management software, Ellison said.

He is scheduled to provide more details at an event for customers and analysts on June 6 at Oracle’s headquarters in Redwood City, California.

Reporting By Jim Finkle; Editing by Matt Driskill

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