Putnam Investments, a money management firm 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, Inc to provide data grid solutions in support of Putnam’s initiatives.

Tangosol's 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 datacenter 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.

According to Maurizio Ferconi, Managing Director and Head of Financial Engineering at Putnam, “Our selection of the vendor for data grid capabilities is strategic.  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.” 

Cameron Purdy, President of Tangosol, comments on the Putnam relationship, “We are delighted to have the opportunity to work with Putnam Investments.  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 delighted to be a part of the Putnam team.”