Oracle to buy GoldenGate
24 July 2009 | 4438 views | 0
Oracle has agreed a deal to buy GoldenGate, a provider of real-time data integration software that counts Bank of America and VocaLink among its customers. Financial terms were not disclosed.
San Francisco-based, privately held GoldenGate has over 400 clients, many of them in financial services, for its technology, which pulls data from various sources in real time for analysis.
Bank of America uses the vendor's software to help keep its ATM network running and detect fraud activity.
Oracle says the combination of its technology with GoldenGate's "is expected to create a comprehensive heterogeneous data integration platform". This means customers will benefit from improved business intelligence and high availability of critical applications.
Hasan Rizvi, SVP, Oracle Fusion middleware product development, says: "With the addition of GoldenGate, Oracle expects to help our customers achieve better performance through improved business intelligence and business continuity with real-time information."
The transaction is expected to close later this year, subject to conditions and regulatory approval.
Oracle has already splashed out $7.4 billion on Sun Microsystems this year, although the deal is still subject to antitrust approval.