Oracle and NetSuite go after customers with the same kinds of needs, but they've carved out their own turfs, and are about to get even cozier.

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FORTUNE -- Larry Ellison is cheering for Oracle and NetSuite. Not surprising, considering the billionaire tech mogul (and Oracle founder and CEO) is a major shareholder in both companies. But now Oracle (ORCL) and NetSuite (N) have more than Ellison's stake in common -- they're both going after big corporate customers.

Oracle is known for selling large-scale, on-premise hardware and software packages to businesses. But NetSuite has historically targeted small and medium companies with its more affordable cloud-based finance and accounting software, which is delivered on-demand and over the Internet. Last week at NetSuite's SuiteWorld conference in San Francisco, the smaller software company announced a new suite of applications, services and partnerships aimed at attracting larger enterprise customers.

So does this mean NetSuite will soon compete for Oracle's turf? More