Business software maker Oracle Corp. today said it plans to acquire TimesTen Inc., a privately held supplier of real-time data management software.
This marks Oracle’s fourth acquisition this year – including the contentious battle for PeopleSoft Inc. Terms of the deal were not disclosed, but the buyout is expected to close by the end of July pending regulatory approval.
TimesTen provides infrastructure software for managing events, transactions and data for the telecom, networking, securities trading and other industries.
"The TimesTen technologies will be a natural extension of our database and Oracle Fusion Middleware," said Andrew Mendelsohn, senior vice president, Oracle Database Server Technologies, in a prepared statement. "This will enable us to provide our customers – such as those in the telecommunications and financial services industries – with instantly responsive and continuously available access to critical transaction data."
TimesTen's customers include Amdocs, Avaya, Cisco Systems Inc., Ericsson, Lucent Technologies, NEC, Nokia and Sprint Corp.
