With the acquisition of the data management software provider, company plans to extend Oracle Database and Oracle Fusion Middleware.

Oracle, an enterprise software company, and TimesTen, Inc., a provider of real-time data management software, yesterday announced that they have entered into a definitive agreement whereby Oracle will acquire TimesTen, to extend Oracle Database and Oracle Fusion Middleware.

With this acquisition, Oracle plans to accelerate the pace of integration and innovation of TimesTen products. In addition, customers using TimesTen and Oracle will have a single point of contact to manage all of their support and service requirements on a global scale.

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.

"The TimesTen technologies will be a natural extension of our database and Oracle(r) Fusion Middleware," said Andrew Mendelsohn, senior vice president, Oracle Database Server Technologies. "This will enable us to provide our customers - such as those in the telecommunications and financial services industries - with instantly responsive and continuously available access to critical transaction data."