Oracle CEO Mark Hurd spoke with reporters from around the world at the company’s headquarters in Redwood Shores, California. Hurd discussed Oracle’s strategy for gaining market share from its competitors and noted that mid-market businesses are migrating from their legacy data center infrastructures to the cloud, allowing Oracle’s NetSuite business to grow.
Our NetSuite business has grown exponentially over the course of the past year, and that is mostly sold to small and medium businesses. Those growth rates have been outstanding.”
According to Hurd, as businesses come to understand the advantages of SaaS offerings, more will migrate from their existing internal IT infrastructures. “There’s just incredible levels of interest in getting out of these old legacy systems and getting into the modern SaaS systems with all the new modern features that come with them,” he said.