Mixed messages on Oracle acquisitions


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Oracle Corporation ( ORCL ) president Charles Phillips stunned quite a few listeners last week when he said that the software giant planned to spend $70 billion buying other companies over the next five years. Such an acquisition spree would be astonishing, even for a company that recently bought Sun Microsystems for $7 billion.

Phillips made his assertion at the Fortune Brainstorm Tech Conference in Aspen, Colorado, stating that ""If you look forward for the next five years, we'll probably double what we've spent on acquisitions in the last five years."

Over the past five years, Oracle has spent around $35 billion on acquisitions.

However, the company issued a statement on Friday contradicting the president's assertions, saying that such an acquisition budget would be "highly unlikely" and that Oracle "doesn't even have a one year acquisition budget."

However, the firm did say that it would consider making acquisitions "if market conditions warrant."

The confusion didn't appear to faze investors, however, who have pushed up Oracle's stock price over 4 percent since Thursday. ADNFCR-1724-ID-19908055-ADNFCR

The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

This article appears in: Personal Finance Business
Referenced Stocks: ORCL

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