The Eurozone financial crisis has boosted Oracle's development, one of the company's top executives has revealed.
Speaking in an opening day speech at Oracle Open World 2013 in San Francisco, EMEA executive VP, Oracle, Loic le Guisquet, said: "Some of our better years in Europe have been when it's been very difficult economically.
"It might sound strange, but there's an explanation for that. We've done really well in southern Europe in the last couple of years, and that's because we have the tools that help our customers to reduce IT costs."
Oracle's customers can make savings of 30 to 40% by consolidating databases using its cloud technology, he explained.
"For those economies that are challenging in Europe, this technology comes at the right moment."
Backing up his comments, le Guisquet pointed to one of its customers in Ireland, Allied Irish Banks (AIB)
He said: "It is using Oracle technology to reduce the number of its databases. AIB has 10 times less databases to run, and has been able to compress all that in a very compelling way."
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