Oracle has made a $219.2 million cash offer to buy MetaSolv, a telecom infrastructure player that specializes in hot technologies like VoIP and IPTV. The announcement comes just as the database giant kicks off its week-long OpenWorld conference at San Francisco's Moscone Center. And President Charles Phillips took advantage of the public forum on Sunday to defend the company's acquisition strategy, telling attendees that the company remains committed to growth by acquisition. "We get proven R&D [research and development] which supplements what we've already invested in," he said. "We also get industry experts with decades of experience - a phenomenal asset for us."

Well, they certainly get growth. InfoWorld reports that MetaSolv is Oracle's 20th acquisition in the past two years. And if the ROI on Larry Ellison's liberal spending remains uncertain for Oracle shareholders, it certainly seems to be good for San Francisco. The Chronicle notes that OpenWorld has gotten so big that it has shut down traffic on Howard Street, and "is expected to generate $60 million in revenue for the city's economy in the form of spending on hotels, restaurants, shops and tourist attractions."