Oracle wants to buy into semiconductors -

Oracle CEO Larry Ellison has said the company is looking to buy semiconductor companies and makers of industry specific software.

The company, which has made around 65 acquisitions during the past five years, hopes that buying chipmakers will further its push into computer hardware following its high profile purchase of Sun Microsystems.

“You’re going to see us buying chip companies,” Bloomberg reported Ellison as saying during Oracle’s annual meeting in San Francisco. He added that the company wanted to follow Steve Jobs' approach and own more of the intellectual property that underpins computer chips.

However, Oracle isn't green about how the industry works having already acquired knowledge from Sun, which makes servers based on its own chip designs.

Ellison also outlined plans  to buy more makers of software focused on specific industries. By focusing on specific areas, it hopes to stand out from rivals such as SAP.

According to Bloomberg, Oracle had $23.6 billion in cash and short-term investments at the end of its fiscal first quarter. However, it probably shouldn't be a surprise that the company is moving in this direction. After hiring ex HP CEO Mark Hurd, analysts predicted that Oracle would be thinking about acquiring more hardware.