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Oracle reveals new cloud computing strategy

Like any tech company worth its salt, business software manufacturer Oracle is investing in the Cloud.

Oracle CEO Larry Ellison announced on 6 June a plan to make its suite of more than 100 applications available to customers over the Internet, rather than exclusively as products to be physically installed on office computers.

Though Ellison has been known to denigrate cloud computing, he admitted that Oracle engineers had been working to develop cloud-based services for the past seven years. The company also invest over £3.5 billion in the project, including acquisitions of cloud computing pioneers like RightNow Technologies and Taleo.

Ellison admitted that "very few technology companies cross the chasm from one generation to the next", but said that Oracle now has the "most comprehensive cloud on planet Earth".

He went on to predict that Oracle will soon best competitors like Salesforce and Workday by having anticipated the cloud computing needs of enterprise and government customers.

The company brings in a yearly revenue of some $37 billion (£24 billion) and a current market value of $137 billion (£88.5 billion).