Feeds

Oracle has '$70bn, five-year acquisition plan'

Oh wait, no it doesn't

Secure remote control for conventional and virtual desktops

Charles Phillips, one of the co-presidents at software giant and unenthusiastic server maker Oracle, reportedly said the company had plans to double its acquisition budget over the next five years to a total of $70bn. But apparently this is not true.

Phillips was speaking on Thursday at the Fortune Brainstorm Tech 2010 conference in Aspen, Colorado, and perhaps the rarefied air got to the co-president or the reporter working for Fortune magazine, which hosted the conference and reported on Phillips' comments. "It's early in the game, and there's plenty left to do," Phillips is quoted as saying. There is no direct quote on the $70bn, five-year figure in the story, but Phillips is quoted saying that Oracle is not interested in buying SaaSy CRM rival Salesforce.com. which was founded by ex-Oracle hotshot Marc Benioff. (Sorry, you're going to have to get rich selling yourself to IBM instead.)

Oracle's PR machine, which is about as responsive as a mother-in-law (meaning, it talks to you when it wants to criticize or to get something, but generally ignores you otherwise), woke up early Friday morning to clarify Phillips' comments, saying that Oracle's acquisition strategy had not changed.

"Oracle does not have a five year acquisition budget," said Oracle spokesperson Karen Tillman in a statement. "We don't even have a one year acquisition budget. While it is highly unlikely that we will spend anything approaching $70 billion in five years, we will be opportunistic and, if market conditions warrant, we will buy additional companies that further our strategic goals and address our customers' needs." ®

The essential guide to IT transformation

More from The Register

next story
Apple promises to lift Curse of the Drained iPhone 5 Battery
Have you tried turning it off and...? Never mind, here's a replacement
Mozilla's 'Tiles' ads debut in new Firefox nightlies
You can try turning them off and on again
Linux turns 23 and Linus Torvalds celebrates as only he can
No, not with swearing, but by controlling the release cycle
Scratched PC-dispatch patch patched, hatched in batch rematch
Windows security update fixed after triggering blue screens (and screams) of death
This is how I set about making a fortune with my own startup
Would you leave your well-paid job to chase your dream?
prev story

Whitepapers

Endpoint data privacy in the cloud is easier than you think
Innovations in encryption and storage resolve issues of data privacy and key requirements for companies to look for in a solution.
Implementing global e-invoicing with guaranteed legal certainty
Explaining the role local tax compliance plays in successful supply chain management and e-business and how leading global brands are addressing this.
Advanced data protection for your virtualized environments
Find a natural fit for optimizing protection for the often resource-constrained data protection process found in virtual environments.
Boost IT visibility and business value
How building a great service catalog relieves pressure points and demonstrates the value of IT service management.
Next gen security for virtualised datacentres
Legacy security solutions are inefficient due to the architectural differences between physical and virtual environments.