Ellison: Oracle Doesn't Want Brocade

REDWOOD SHORES, Calif. (

TheStreet

--

Oracle

(ORCL) - Get Report

will not be pursuing an acquisition of store switch maker

Brocade

(BRCD)

, despite a recent

rumor

linking

the two companies.

The database giant, which recently sent shockwaves through the tech sector with its $7.4 billion

acquisition

of

Sun Microsystems

(JAVA)

, has no intention of buying Brocade, according to reports.

Speaking during the company's shareholder meeting Wednesday, Oracle CEO Larry Ellison dismissed the acquisition talk, according to

The Wall Street Journal

. "We are not buying Brocade," he said, a comment that will inevitably fuel speculation about Brocade's other potential suitors.

Brocade, for example, is said to be in

Hewlett-Packard's

(HPQ) - Get Report

cross-hairs, although the tech bellwether declined to comment on this when contacted by

TheStreet

earlier this week.

A Brocade spokesman was also unwilling to comment on the latest round of acquisition talk

swirling

around the company.

The storage networking specialist is certainly an

attractive

proposition and has a long-standing relationship with H-P. Brocade struck a bullish tone on its recent

analyst day

, raising its 2010 revenue outlook. With a slew of big name partners already under its belt, the switch maker also is rumored to be forging a deal with H-P to resell its Ethernet products.

H-P shares rose 36 cents, or 0.77%, to $46.92, in pre-market trading Thursday.

-- Reported by James Rogers in New York