Oracle and TimesTen, Inc., a privately held supplier of real-time data management software, 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.
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