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Oracle Thursday announced it has agreed to buy TimesTen, a privately held company that makes software for boosting the performance of database applications used for stock trading, airline reservations and other areas where fast response times are important.
TimesTen's infrastructure products are already used frequently by Oracle customers, providing in-memory caching for Oracle's database. TimesTen's customers include JP Morgan Chase & Co., Sprint and United Airlines, Oracle said.
Oracle will use the technologies in its database and middleware products, allowing it to improve availability and response times for customer applications, Oracle said. TimesTen's products are also used for managing events, transactions and data for real-time billing and call center systems. Competitors include Ants Software of Burlingame, Calif.
The transaction is expected to close by the end of July, pending regulatory approval and other customary closing conditions, Oracle said. Financial terms were not disclosed.
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