Phillips' talk -- to an audience of approximately 1,000 customers, partners and press -- centered on dispelling what he called the "myths" surrounding Fusion.

Myth 1, he said, was that Fusion will merge code with Oracle e-business suite, PeopleSoft Enterprise and J. D. Edwards World applications.

"We are not merging code," Phillips said.

Phillips said customers should think of Fusion as a new product consisting of enterprise applications to which they can upgrade from their current applications.

The Fusion enterprise application suite will take best practices from all of its current major acquisitions and create a single enterprise suite. However, to get to that point, Oracle created the Fusion Middleware development platform, available now.