Dallas, Texas 10/04/2013 (Financialstrend) – It is that time of the year when Oracle Corporation (NYSE:ORCL) gathers all its die hard customers and fan following of Larry Elision under one roof for a round of pow-wow in the back drop of new product releases and major announcements which generally creates a lot of interest among the tech community.
This year’s Oracle Open World event was no different. Larry after missing out the opening days events due to his preoccupation with the America Cup sailing competition made up for his absence later in the week.
One of the most talked about announcements coming from this database major which is in the midst of a transformation as a end to end technology provider for companies was the yet to be released new version of “in-memory “ 12c database . Larry proclaimed that this new database will improve analytics query speeds by more than 100 times its current speed.
Through the release of this new version of the database, Ellison plans is to take on his arch rivals at SAP who have been steadily increasing their share of the database market by pushing sales of their Hana in-memory database. The sales of Hana have gone up by close to 70% over the past year and this has Oracle worried.
On the hardware front, Ellison talked about the impending launch a new high-end server codenamed “M6-32 Big Memory Machine”. This new servers are tailor made for in-memory deployments and come at a hefty sticker price of $3M. Oracle’s hardware product sales fell 14% Y/Y in the Aug. quarter, easily missing guidance. Oracle is also augmenting its cloud offerings with a cloud based backup/recovery service. In spite of the announcements the share price of the marquee stock has been under pressure over the past few months. As of close of business on October 3, the share price is down 1.3% from its previous day close.