Oracle is an American multinational computer technology corporation headquartered in Austin, Texas. The company was formerly headquartered in Redwood Shores, California until December 2020 when it moved its headquarters to Texas. The company sells database software and technology, cloud engineer systems, and enterprise software products — specifically its own brand of database management systems. In 2020, Oracle was the second-largest software company by revenue and market capitalization. The company also develops and manufactures tools for database development and mid-level software, enterprise resource planning (ERP) software, human capital management (HCM) software, customer relationship management (CRM) software (AKA customer experience), enterprise performance management. (EPM) software, and supply chain management (SCM) software.
History
Larry Ellison co-founded Oracle Corporation in 1977 under the name Software Development Laboratories (SDL) with Bob Miner and Ed Oates. He took inspiration from a paper written in 1970 by Edgar F. Codd titled "A Relational Model of Data for Large Shared Data Banks." He heard about the IBM System R database from an article in the IBM Research Journal provided by Oates. Ellison wanted to make Oracle's product compatible with System R but failed to do so because IBM kept the error code for its DBMS secret. SDL changed its name to Relational Software, Inc. (RSI) in 1979, then to Oracle Systems Corporation in 1983, to more closely align with its flagship product Oracle Database. At this stage, Bob Minor served as the company's senior programmer. The company's initial public offering was on March 12, 1986.
In 1995, Oracle Systems Corporation changed its name to Oracle Corporation, officially named Oracle, but sometimes referred to as Oracle Corporation, which is the name of the holding company. Part of the early success of Oracle Corporation stemmed from using the C programming language to implement its products. This made it easy to port to various operating systems, most of which support C.
In the late 2000s, Oracle acquired PeopleSoft, a small ERP company.
Oracle ranks No. 82 on the 2018 Fortune 500 list of the largest United States corporations by total revenue. According to Bloomberg, Oracle's CEO-to-Employee Pay Ratio is 1,205: 1. In 2017, the CEO's compensation was $ 108,295,023. Oracle is one of the accepted employers of the ACCA and the average employee compensation rate was $ 89,887.
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