Oracle Plans New Cloud-Based Products

Larry Ellison, the 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.

Oracle, which gets most of its revenue by selling software that companies install in their own datacentres, is far behind smaller software vendor Salesforce.com 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. “That is about a third what Salesforce.com 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.

Updated Date: Feb 02, 2017 23:37:09 IST