Hmm – there’s a data integrity error somewhere in this picture, relative to the Fortune assertions
Oracle Corp.'s (ORCL) denied that it has a five-year acquisition budget, and is unlikely to spend anywhere near $70 billion in the next five years on takeovers as it disputed an article in Fortune Magazine quoting Oracle President Charles Phillips.
The business software company said in a statement Friday, "We don't even have a one-year acquisition budget." However Oracle said that it would continue to acquire more companies that further its strategic goals and address customer needs if market conditions warrant.
The magazine's website on Thursday quoted Phillips as making the remarks during the Fortune Brainstorm Tech conference in Aspen, Colo.