REDWOOD SHORES, Calif. (
will not be pursuing an acquisition of store switch maker
, despite a recent
the two companies.
The database giant, which recently sent shockwaves through the tech sector with its $7.4 billion
, 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
cross-hairs, although the tech bellwether declined to comment on this when contacted by
earlier this week.
A Brocade spokesman was also unwilling to comment on the latest round of acquisition talk
around the company.
The storage networking specialist is certainly an
proposition and has a long-standing relationship with H-P. Brocade struck a bullish tone on its recent
, 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