Oracle's Larry Ellison Considered Buying RIM or Palm

Oracle's ORCL CEO, Larry Ellison, said today that the company considered buying either Research in Motion RIMM or Palm to enter the smartphone market. After a long analysis, Oracle decided that RIM was too expensive. Palm was later acquired by HP HPQ. According to Ellison, "Oracle felt it lacked in-house expertise on smartphones and hence considered acquisitions." Oracle eventually decided not pursue opportunities to compete with Google GOOG and Apple AAPL. Oracle is currently trading at $29.41, a gain of $0.77 or 2.69%.