Evan Goldberg

Larry Ellison's two favorite companies: Oracle and its "competition"

May 16, 2011: 2:34 PM ET

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.

Larry Ellison

Image by Oracle_Photos_Screenshots via Flickr

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

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