Following foreign media reports that Oracle (ORCL) will acquire Chinese software company Kingdee for US$150 million, Oracle's spokeswoman in the Asia Pacific region says that the report was only speculation.

British media reported last week that Oracle would spend US$150 million purchasing Shenzhen software company Kingdee, and the transaction would be conducted roughly half in cash and half in stock, and be completed by the end of this year.

Chi Cho Hea, a spokeswoman for Oracle Asia-Pacific in Singapore, claims that it is only a rumor.

In the past eighteen months, Oracle has acquired about 20 software firms around the world.