Feeds

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

Oh wait, no it doesn't

Boost IT visibility and business value

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." ®

5 things you didn’t know about cloud backup

More from The Register

next story
Why has the web gone to hell? Market chaos and HUMAN NATURE
Tim Berners-Lee isn't happy, but we should be
Linux turns 23 and Linus Torvalds celebrates as only he can
No, not with swearing, but by controlling the release cycle
Apple promises to lift Curse of the Drained iPhone 5 Battery
Have you tried turning it off and...? Never mind, here's a replacement
Sin COS to tan Windows? Chinese operating system to debut in autumn – report
Development alliance working on desktop, mobe software
Eat up Martha! Microsoft slings handwriting recog into OneNote on Android
Freehand input on non-Windows kit for the first time
This is how I set about making a fortune with my own startup
Would you leave your well-paid job to chase your dream?
(Not so) Instagram now: Time-shifting Hyperlapse iPhone tool unleashed
Photos app now able to shoot fast-moving videos
prev story

Whitepapers

A new approach to endpoint data protection
What is the best way to ensure comprehensive visibility, management, and control of information on both company-owned and employee-owned devices?
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.
Maximize storage efficiency across the enterprise
The HP StoreOnce backup solution offers highly flexible, centrally managed, and highly efficient data protection for any enterprise.
How modern custom applications can spur business growth
Learn how to create, deploy and manage custom applications without consuming or expanding the need for scarce, expensive IT resources.
Next gen security for virtualised datacentres
Legacy security solutions are inefficient due to the architectural differences between physical and virtual environments.