Putnam Investments Chooses Tangosol Coherence Software for Data Grid ApplicationsSOMERVILLE, MA, April 24, 2006
– Putnam Investments™, one of the oldest and largest money management firms in the U.S., with nearly $200 billion of assets under management for nearly 11 million shareholders and for institutional clients, today announced the selection of Tangosol™ to provide data grid solutions in support of Putnam’s initiatives.
Tangosol, with its market leading Tangosol Coherence™ data grid solutions, helps large financial, insurance, telecommunications, logistics, travel, and other institutions more easily deploy massive enterprise-wide applications that operate with unmatched performance, scalability and reliability – even to the point of surviving data center failure without service interruption or degradation.
Putnam has a number of initiatives underway that will further improve user experience, enable the business to expand, and improve workflows. Grid computing is a core strategic technology in virtually all of the advanced mission critical applications currently being developed. The use of Tangosol Coherence data grid technology provides several very important benefits to Putnam and its clients.
“Our selection of the vendor for data grid capabilities is strategic,” according to Maurizio Ferconi, managing director and head of Financial Engineering at Putnam. “Tangosol Coherence 3.1, with its advanced features, has anticipated and responded to our needs with solutions that are well ahead of anything else in the market.”
“We are delighted to have the opportunity to work with Putnam Investments,” commented Cameron Purdy, president of Tangosol. “Their approach to the market in this highly competitive environment is both insightful and pragmatic. They have chosen initiatives that will benefit greatly from emerging technologies like SOA, data grid and compute grids. They are taking advantage of the most advanced technologies without taking risks with unproven solutions or vendors. We are pleased to be a part of the Putnam team.” About Tangosol, Inc.
Tangosol is the leading provider of reliable data grid solutions, enabling enterprises to predictably scale mission critical applications. Tangosol Coherence reliably manages data in memory across data grids, enabling applications to achieve unparalleled scalability to quickly and efficiently meet rapidly-changing data access demands. The company is headquartered in Massachusetts, and is privately held. See www.tangosol.com.
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