U.S. company Oracle, the second largest software producer in the world, no longer is considering significant acquisitions in the future, but instead target organic growth of the company, through its own resources – that sales of hardware and new cloud computing services, said Co-President Safra Catz, writes Bloomberg.
Having acquired 70 companies for a record amount of 40 billion dollars, a new wave of acquisitions would be a burden, Oracle official said in a meeting with analysts. Large purchases have distracted managers at Oracle said Mark Hurd, HP’s former CEO, now co-chairman of the software manufacturer.
Oracle, the number two global market for software behind Microsoft, launched new equipment and technologies developed by Sun Microsystems.
The company announced last week the Oracle Social Network, a collaboration platform for social networking for companies. Oracle Social Network will allow business users to find and work with appropriate people within the company and other companies – for example, suppliers, partners and customers – using human resource information system and their private social network.
Oracle estimates for the current fiscal year revenues of 38.6 billion dollars.