REDWOOD SHORES, Calif. 10 June 2005 - Oracle and TimesTen, Inc., a privately held supplier of real-time data management software, today 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 centers, airline operations and many other ultra high-performance applications.
"The TimesTen technologies will be a natural extension of our database and Oracle(r) Fusion Middleware," said Andrew Mendelsohn, senior vice president, Oracle Database Server Technologies. "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 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," said Jim Groff, TimesTen's Chief Executive Officer. "Many of our customers already run on Oracle. By combining our technology with Oracle's industry-leading database and middleware, we will be able to provide an extremely responsive, scalable, robust and secure solution."
"Technology that supports very 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), but is also becoming increasingly important for large scale distributed data environments such as logistics, inventory management, or any grid-based deployment of application servers," said Carl Olofson, IDC Research Director for information management and data integration software. "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."
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About TimesTen
TimesTen provides real-time infrastructure software for managing events, transactions and data within performance-critical applications. Companies extend their software infrastructures with TimesTen products so they can provide systems that are instantly responsive, highly scalable and continuously available. For more information about TimesTen, Inc. visit www.timesten.com.
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