Oracle to buy software maker Tangosol

Tangosol develops software designed to increase application performance by providing fast and distributed access to frequently used data.

The 26-employee company, based in Somerville, Mass., markets its Coherence Data Grid software to such industries as financial services, telecommunications, and travel and logistics. Oracle has made other recent acquisitions in these areas, including Retek for the retail industry and G-Log for the travel and logistics 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," Thomas Kurian, Oracle senior vice president, said in a statement.

Tangosol aims to address the growing trend of service-oriented and Web 2.0 architectures, which call for shared data.

Terms of the deal were not disclosed.