Oracle Corp has announced its intent to acquire in-memory grid software firm Tangosol Inc to provide better support for high-volume transaction processing environments.
Financial terms of the deal not been disclosed and it is expected to close in April 2007.
Tangosol, which is privately-held, develops Coherence Grid, a data grid software product that increases application performance by providing fast, distributed access to frequently used data.
The software is applicable to so-called extreme transaction processing environments and most of Tangasol’s 1,500 customers come from the financial services, telecommunications and logistics sectors.
Oracle will position Tangosol’s technology with its Fusion Middleware and TimesTen database to deliver an integrated platform for businesses looking to step up the performance of their transaction processing systems.
Tangosol, founded in 2000, is based in Somerville, Massachusetts and also has an office in London, UK.