Enterprise applications provider Oracle today backpedaled on a statement by its own president that the company plans to spend $70 billion on acquisitions over the next five years.
The company issued a statement this morning distancing itself from comments President Charles Phillips made at the Fortune Brainstorm Tech conference in Aspen, CO, on Thursday. According to a news report on Fortune.com, during an onstage discussion, Phillips said Oracle will allocate $70 billion to support a future spending spree.
“It’s early in the game, and there’s plenty left to do,” the Fortune.com story quotes Phillips as saying.
Today, however, Oracle issued a “clarification” of those comments.