Oracle to Acquire Somerville-based Tangosol - Somerville, MA
Oracle, the business software giant, announced that it will acquire Tangosol, a Somerville-based maker of data grid software. Financial terms of the deal were not disclosed. Data grid software is designed to increase the performance of applications by providing fast, distributed access to frequently used data, and is most often used in industries such as financial services, telecommunications and travel and logistics. Oracle said that it plans to couple the software with its own products to create an integrated platform for businesses using a new model of transaction processing. The deal is expected to close in April.