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Oracle CEO Larry Ellison outlined the company's product strategy and vision, reaffirming its commitment to continue to support PeopleSoft product lines until 2013.

This will include the release of PeopleSoft Enterprise 9.0.

"By retaining over 90 percent of PeopleSoft's development and support organization we can deliver on our commitment to all of our applications customers," Ellison said.

Ellison also announced "Project Fusion," the company's next-generation information-oriented application architecture that will combine the best features and functions of Oracle's applications with those of PeopleSoft and JD Edwards.

"Our greatly expanded development team, will focus our resources on creating next generation information-oriented applications based completely on industry standards," Ellison said.

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