Oracle's acquisition train is about to make another stop.
The database and business software giant today announced plans to extend its database and Fusion middleware products with the purchase of privately held TimesTen Inc., a provider of high-speed software for managing customer data and transactions.
TimesTen's in-memory database technology is used to power billing, stock trading, call center and other time-sensitive systems. Some of the Mountain View, Calif.-based firm's customers include Aspect Communications Corp., Avaya Inc., Cisco Systems Inc., Ericsson Inc., J.P. Morgan and Lucent Technologies.
"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," said Carl Olofson, IDC research director for information management and data integration software, in a statement.
Oracle has been on a high-profile acquisition spree of late.
It bought PeopleSoft Inc. last December after a heated and high-profile takeover battle. Oracle then outbid rival SAP AG for retail software firm Retek Inc. in March. A week later, Oracle purchased Oblix Inc., a provider of identity management software.
Oracle officials said they expect to close the TimesTen deal by the end of July.