By Sarah Gain
The acquisition will expand Oracle’s footprint in the in-memory database market.
Oracle and TimesTen, 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 parties anticipate closing the transaction by the end of July 2005, subject to certain regulatory approvals and other customary conditions.
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 centres, airline operations and many other high-performance applications.
“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 instantly responsive and continuously available access to critical transaction data,” says Andrew Mendelsohn, senior vice president of Oracle Database Server Technologies. TimesTen’s global customers include Amdocs, Aspect Communications, Avaya, Cisco Systems, Ericsson, JP Morgan, Lucent, NEC, Nokia, Sprint and United Airlines, among others. “Our customers will be the real winners here. Many of our customers already run on Oracle. By combining our technology with Oracle’s database and middleware, we will be able to provide a responsive, scalable, robust and secure solution,” says Jim Groff, TimesTen’s chief executive officer.
Technology that supports high speed data storage and retrieval using database constructs with recoverability and integrity has been a key requirement of applications in the areas of telecommunications and financial services, especially trading systems.
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, however, according to IDC. "TimesTen has been offering this technology for years. With this acquisition, Oracle will be able to offer its customers the benefits of this functionality as a seamlessly integrated element of its products," says Carl Olofson, IDC research director for information management and data integration software.