American tech major Oracle on Friday opened two cloud regions in India's financial capital and announced that it would open one more in Hyderabad early next year.
The move is a part of the company's plans to have 20 new 'Gen 2 cloud datacentres' by 2020, where it is targeting to open in one region every 23 days over the next 15 months.
Cloud services, which rest primarily on data centres and other specifically built solutions, is a very tightly contested space in India, and is led by Amazon Web Services, while Google and Microsoft are also competing hard.
"These two new cloud regions signify Oracle's commitment to India, as the country looks to nearly double the size of its economy by 2025," Executive Vice President Philippe Mathieu said.
It, however, did not specify the investments for this. The company statement said over 15,000 customers in India, including Federal Bank, TTK Healthcare, HARMAN Connected Services and Bajaj Electricals, were using Oracle to manage their mission-critical workloads.
The company presently employs 38,000 people in India across its presence, including 10 development centres and hubs for Oracle's global support, consulting, and financial services operations.
Earlier this year, Larry Ellison, the Founder of Oracle Corporation, acquired three million shares in Tesla worth $1 billion to become its second largest individual shareholder after Founder and CEO Elon Musk. Larry is also the newest board member of the electric car company.
The investment, which was confirmed by Tesla in a regulatory filing, gives Larry 1.75 percent stake in the company. Larry made his investment through the Lawrence J Ellison Revocable Trust.
Featuring in the Forbes Billionaires 2018 List as the 10th richest person in the world, Larry has a net worth of $58.5 billion and has been open about his love for Tesla and its founder.
( Disclaimer: Additional background information has been added to this PTI copy for context)
(Edited by Teja Lele Desai)
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