Oracle looking to compete with Amazon's cloud services

London

ORACLE Corp founder and executive chairman Larry Ellison said his database company is expanding its cloud-computing offerings, bringing Oracle into more direct competition with Amazon.com Inc. "We're prepared to compete with Amazon.com on price," said Mr Ellison in a webcast presentation on Monday, after announcing that Oracle would offer online storage and capability for customers to run their applications entirely in Oracle's cloud.

The expansion is a major new step for Oracle, which is shifting its traditional database and customer relationship management businesses to the cloud. "This is a really big deal," said Mr Ellison, who stepped aside in 2014 as chief executive of the company.