Oracle (NASDAQ:ORCL) is finding out late that it should have been focusing on cloud computing like some of its competitors. Five years ago, the company’s CEO Larry Ellison described cloud computing as “nonsensical” in a Q&A session, according to Reuters.
Now the company is seeing its mistake as Oracle, which has invested in traditional infrastructure over the last five years, is trying to keep up with other companies that pursued cloud computing. Some of Oracle’s rivals have been expanding using cloud computing to gain customers because it is less expensive and faster than traditional offerings.
In order to keep up with other companies who are using cloud computing, Ellison has made deals with Microsoft (NASDAQ:MSFT) and Salesforce (NYSE:CRM) who are long-time rivals. Few details have been released on what these partnerships will actually entail.