REDWOOD SHORES, Calif. — Oracle today announced that it has entered into a definitive agreement to buy Tangosol Inc, a provider of in-memory data grid software for an undisclosed price.

Data grid software increases application performance by providing fast, distributed access to frequently used data. Tangosol’s product, Coherence Data Grid, is aimed at financial services, telecommunications and travel and logistics industries.

Oracle said that coupled with its Fusion middleware, Oracle TimesTen and Oracle Database, the combination will provide an integrated platform for businesses moving to what has been called extreme transaction processing in these industries.

“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,” said Oracle senior vice-president Thomas Kurian.

“Modern architectures like SOA, Web 2.0 and EDA (event driven architecture) are enabling more agile business processes and applications,” said Tangosol CEO Cameron Purdy. “However, those same architectures are driving the demand for high-performance access to shared data, creating a very heavy burden on backend data processing services. Oracle and Tangosol can together address the need for a comprehensive data virtualization strategy that can both relieve the load on backend infrastructures while maintaining or increasing performance.”

In a news release the companies said Tangosol has been successfully deployed at more than 1,500 implementations.

The transaction is subject to customary conditions and is expected to close in April.

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