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Technology / Cloud

Oracle ready for rapid cloud shift

Mark Hurd, Co-CEO of Oracle has stated that the company plans to move 95% of its products to the cloud by October.

Currently, the company has around 65% of its products available in the cloud but in an interview with Bloomberg, Hurd said that it would be moving at a fast pace to move the bulk of its products to the cloud.

Hurd, said: "We are still investing, very much in our traditional products. But that said, we are moving those products to now be available in the cloud at a really incredible pace."

In the last quarter, Oracle reported that combined sales in its cloud software, infrastructure and PaaS businesses were $527 million, this represented a growth of 29% from the previous year.

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The decision to quickly move the vast majority of products onto the cloud is one that has clearly been influenced by this growth.

Chairman Larry Ellison, said: "Our cloud business is growing a lot faster than even I expected." While others at the company have mirrored this, stating expectations to collect $5 million for every PaaS it sells over 5 years.


This article is from the CBROnline archive: some formatting and images may not be present.