Software giant Oracle’s fourth quarter sales have risen ahead of market expectations, jumping 20 per cent to $5.8bn (£2.9bn) on the back of new products gained through recent takeovers.

The acquisition of software makers such as Hyperion and Stellent has boosted its product range, allowing it gain ground on rival SAP.

Oracle increased profits 23 per cent to $1.6bn (£800m), with new software licence sales also up 17 per cent to $2.5bn (£1.25bn), which the company says is an indicator of success.

‘Over the last 12 months Oracle's new software application licence revenues grew at a rate of 32 per cent while SAP's growth slowed to 10 per cent in their most recent fiscal year," said Oracle president Charles Phillips.

Oracle recently filed a lawsuit against SAP, accusing its rival of hacking into its computer network and stealing information.