After the departure of Oracle founder and CEO Larry Ellison, Oracle co-CEO Safra Catz (who with co-CEO Mark Hurd, makes the management team a challenge, tantamount to Hurd & Catz) says the company will not tolerate “silver medals” or second place, reports Seeking Alpha.
Israeli-born Safra Catz said, “We’re No.1 in database, we’re No 1. in middleware, but we’re No.2 in applications. At Oracle, silver medal is first loser.” Not only has Oracle, which was the leading player for years, Salesforce.com to contend with in the cloud, but Catz’s statements come as competitor SAP made a deal to pay $8.3 billion for Concur Technologies, a software vendor which manages expenses through cloud technology.
Oracle has also been facing weakness in software licensing growth and slowing database sales. Oracle, like other companies, has been buying up smaller companies to win, a strategy perfected under Ellison’s leadership, but its opponents are applying the same strategy and giving Oracle a run for its money. Among the long list of acquisitions is a hardware/software firm Micros, for which Oracle shelled out $5.8 billion. Aside from other things Oracle has to show for the purchase is an addition to its onerous debt, amounting to $32.6 billion.