Oracle To Acquire TimesTen Inc
Oracle and TimesTen, Inc., a privately held supplier of real-time data management software, have announced that they have entered into a definitive agreement whereby Oracle will acquire TimesTen.
“The TimesTen technologies will be a natural extension of our database and Oracle Fusion Middleware. This will enable us to provide our customers such as those in the telecommunications and financial services industries with responsive and continuously available access to critical transaction data,” said Andrew Mendelsohn, senior vice president, Oracle Database Server Technologies.
TimesTen provides infrastructure software for managing events, transactions and data for a growing number of performance-critical applications in telecom, networking, securities trading and other industries.
Systems powered by TimesTen today include real-time billing, stock trading, call centers, airline operations and many other ultra high-performance applications.
“Technology that supports very high speed data storage and retrieval using database constructs with recoverability has been a key requirement of applications in the areas of telecommunications and financial services (especially trading systems),” said Carl Olofson, IDC Research Director for information management and data integration software.
“It is also becoming increasingly important for large scale distributed data environments such as logistics, inventory management, or any grid-based deployment of application servers,” added Olofson.
“TimesTen has been offering this technology for years. With this acquisition, Oracle will be able to offer their customers the benefits of this functionality as a seamlessly integrated element of their products,” stated Olofson.
The parties anticipate closing the transaction by the end of July 2005, subject to certain regulatory approvals and other customary conditions.
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