Oracle has signed a definitive agreement to acquire California-based TimesTen, a privately-held provider of real-time data management software. Financial terms of the deal were not disclosed.
TimesTen provides infrastructure software for managing events, transactions and data within performance-critical applications.
The technology is used by firms in securities trading, telecoms, networking and other industries. The vendor's financial services customers include JPMorgan, Deutsche Bank, Nasdaq and the Philadelphia Stock Exchange.
Andrew Mendelsohn, SVP, Oracle Database Server Technologies, says the TimesTen technologies will be a natural extension of Oracle's database and Fusion middleware.
"The standards-based TimesTen and Oracle technologies typically co-exist in many customer accounts, with TimesTen providing in-memory caching and Oracle providing the enterprise database infrastructure. The TimesTen in-memory database integrates seamlessly with Oracle's database today, providing a complete solution for our customers," adds Mendelsohn.
The transaction is expected to close by the end of July 2005, subject to regulatory approval.