Oracle's cloud business takes the lead in Latin America

Sao Paulo

ORACLE Corp is selling more cloud-based business software than traditional licensed products in Latin America, executives said on Tuesday, underscoring how remote computing has spurred demand from smaller businesses in new markets.

Chief executive officer Mark Hurd said that the cloud business, which stores enterprise software and data on remote servers, lets Oracle sell to clients without the budget for hardware or qualified staff, which can be tough to find in emerging markets.