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Oracle to buy Tangosol

Oracle is buying yet another company -- Somerville, Mass.-based Tangosol Inc.

Oracle announced plans to acquire yet another company today -- Tangosol Inc., a Somerville, Mass.-based provider of in-memory data grid software.

Tangosol's Coherence Data Grid product increases application performance by providing fast, distributed access to frequently used data. Oracle says the technology caters mainly to customers in the financial services, telecommunications and logistics industries.

Oracle says it will couple the product with Oracle TimesTen, Oracle Database and Oracle Fusion Middleware to provide an integrated platform for high volume businesses that wish to take advantage of extreme transaction processing.

"Together, Oracle and Tangosol create the industry's most comprehensive middleware for building applications that perform real time data analytics, grid based in-memory computations and high performance transactions," Thomas Kurian, an Oracle senior vice president, said in a statement.

Tangosol's technology has been deployed in more than 1,500 implementations, many of which at Global 1000 companies, according to Oracle.

Oracle expects to close the deal next month. Financial details were not disclosed.

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