Oracle is the perfect poster boy for the growing might of cloud computing. This tech stalwart is steadily moving its operations to the cloud, and is slowly moving away from selling its traditional on-premise licensed software.  This transition is expected to reflect in its earnings too. In fact, many analysts are looking forward to the quarterly results that will be announced on December 15.

The street consensus is an earnings of $9.14 billion in revenue, that would lead to an earnings per share (EPS) of $0.60. They also expect Oracle to announce a positive outlook for the next quarter, and expect it to generate around $9.24 billion in revenue, amounting to an earnings per share of $0.64.

While it’s not a surprise to see tech companies growing and expanding their offerings, what’s special about Oracle is it’s move to the cloud. In many ways, this also reflects the growing might of the cloud industry at large.

NetSuite

A defining moment in Oracle’s cloud transition path came on November 7th of this year when it acquired a cloud based provider called NetSuite for a sum of $9.3 billion. NetSuite is a provider of customer relationship management and enterprise resource planning software, and with this acquisition, Oracle took a big step forward into the world of cloud services. It’s worthy to note that Oracle’s co-founder and Chairman Larry Ellison owned almost 40 percent in NetSuite.

Textura

Before NetSuite, Oracle acquired other companies in the cloud space as well. In May of 2016, it purchased Textura for a sum of $663 million. Textura is a cloud-based construction management company that handled around $3.4 billion in payments at the time of its acquisition. This company provided services to more than 6,000 companies in the construction sector by helping them manage projects within specified time and budget constraints, and also, by reducing risk for developers.

Opower

Oracle acquired Opower on May 2nd, 2016 for a sum of $532 million. Opower is a prominent player in the utilities market, with its offering of customer engagement and energy efficiency cloud services for utility providers. This company has more than 100 clients, including some prominent names such as PG&E, Exelon, and National Grid. The big data platform of Opower is believed to store and analyze more than 600 billion meter readings from around 60 million end customers. The analysis from this data helps its clients to proactively meet regulations, and offer a digital experience for its end customers.

With these acquisitions, oracle expanded its reach across different sectors. In addition, many of Oracle’s services are moved to the cloud, so it was able to make a larger foray into cloud-based services. Some reports even show that the company is vying to become the first cloud provider to hit the $10 billion revenue mark in the Saas/ PaaS segment.

This ambition could become a reality soon, as the tech giant has overcome the initial bottlenecks that come with the acquisition of new companies. In this sense, the worst of cloud transition is behind Oracle now, and it can look forward to an exciting future in the cloud world!

The post Oracle’s Cloud Transition Path appeared first on Cloud News Daily.