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Oracle may drop NetSuite takeover after low initial take-up

2016-10-10 09:00:00| Telecompaper Headlines

(Telecompaper) Oracle has extended its tender offer for NetSuite for another month after low initial take-up. Under the terms of the offer, Oracle must acquire a majority of NetSuite's shares not owned by the Oracle CEO Larry Ellison or his affiliates. At the initial expiry 06 October, the company had received only 11.2 percent of the unaffiliated shares. The offer was subsequently extend to 04 November.

Tags: low initial drop oracle

Oracle takes on Amazon in cloud services market

2016-09-19 13:17:00| Telecompaper Headlines

(Telecompaper) Oracle has presented a range of new cloud services at its Oracle OpenWorld event, announcing its intent to challenge Amazon in the cloud infrastructure market. The flagship offering is the release of the Oracle Database software 'as a service', hosted in the cloud. The company also presented more than 20 new Oracle Cloud Platform and Application services. Oracle said the new DBaaS is "orders of magnitudes faster and more scalable than other cloud database services" and also offers new adaptive intelligence applications based on machine learning. Oracle CEO Larry Ellison said: "Amazon's lead is over. Amazon is going to have serious competition going forward", adding as well that the Oracle Data Cloud is even bigger than Facebook.

Tags: services market takes amazon