Wednesday, June 8, 2005

Oracle to Acquire TimesTen for Real-time Database Software

Oracle agreed to acquire TimesTen, a start-up providing real-time data management software, for an undisclosed sum.

TimesTen provides infrastructure software for managing events, transactions and data in telecom, networking, securities trading and other vertical markets. The technology is used for real-time billing, stock trading, call centers, airline operations and many other ultra high-performance applications. Products include a real-time database system, a real-time dynamic data caching system, and a real-time transaction processing system.

TimesTen is deployed in telecom billing systems. The company said its system is used for 80% of wireless E911 calls in the U.S., by four of the top 5 wireless operators in Europe, and by 7 of the top 9 global network equipment suppliers. Customers include Amdocs, Aspect Communications, Avaya, Cisco Systems, Ericsson, JP Morgan, Lucent, NEC, Nokia, Sprint and United Airlines, etc.

TimesTen, which is based in Mountain View, California, was founded in 1996 as a spinout from HP. Investors include ABS Ventures, BEA Systems, Discovery Ventures, Intel 64 Fund, Lightspeed Venture Partners, Mayfield, Morgenthaler Ventures, Sippl Macdonald Ventures, Sun Microsystems, and Technology Crossover Ventures.

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