The General Services Administration is canceling Oracle Corp.’s Schedule 70 contract for information technology services because the company failed to meet the terms of its contract agreement, the agency confirmed. The company can finish work on existing task orders, but agencies cannot place new orders or extend existing task orders with Oracle after May 17, GSA announced on its website Wednesday. Blanket purchase agreements with Oracle through Schedule 70 will terminate on May 17. Agencies can still purchase Oracle software from technology resellers that have Schedule 70 contracts. An Oracle spokeswoman declined to comment. “Based on the GSA’s review of Oracle America,…