Oracle to buy data mgmt software maker

SAN FRANCISCO: Oracle Corp., the world's biggest database maker, on Thursday said it is buying privately-held database maker TimesTen for an undisclosed amount.

The deal -- Oracle's fourth since January -- will provide Oracle with fast, number-crunching software to enable customers in areas, like financial services, rapid access to data.

Such access is especially relevant to traders who demand quick results when searching for historical price data and many other types of information, said Andrew Mendelsohn, senior vice president, Oracle Database Server Technologies.

The TimesTen acquisition, expected to close in July, is distinct from Oracle's $10.6 billion purchase of PeopleSoft in January and its $670 million acquisition in March of small retail software maker Retek.

In both of those accusations, Oracle bought customer bases and software applications that automate business processes such as payroll. In March, Oracle also bought privately-held Oblix, an identity management software maker.

Mountain View, California-based TimesTen, whose customers include Nokia and United Airlines, compliments Oracle's high-powered, flagship database, which generates roughly 80 percent of its business, Mendelsohn said.

TimesTen was founded in 1996 as a spinoff from computer maker Hewlett-Packard and has about 100 employees.

TimesTen CEO, James Groff, was previously a senior vice president at Apple Computer.