First Derivatives PLC OEM agreement with BISTel
October 17 2018 - 2:00AM
RNS Non-Regulatory
TIDMFDP
First Derivatives PLC
17 October 2018
17 October 2018
First Derivatives plc
("FD" or the "Group")
OEM agreement with BISTel
FD (AIM: FDP.L, ESM: FDP.I) announces that it has signed a
material OEM deal with BISTel, a leading provider of smart
manufacturing solutions headquartered in South Korea, for the use
of Kx for Sensors and kdb+ in its product line. Under the
agreement, many of BISTel's products will have "Kx Inside" within
the next two years, with the first deployments expected in the
first half of 2019.
Kx will be used as the technology to store and analyse massive
volumes of sensor data within BISTel's real-time, adaptive
intelligence applications for smart manufacturing. The OEM
agreement was reached after a number of proofs of concept,
including direct comparisons with potential competing solutions,
during which Kx technology proved to be an order of magnitude
faster than these alternative products.
BISTel is a leading supplier of adaptive intelligence (AI)
applications that combine embedded human knowledge and advanced
engineering automation solutions to help factories to better
detect, analyse, predict, and prescribe solutions to complex
manufacturing problems in real-time.
This OEM agreement is also expected to facilitate direct
discussions with a number of the world's leading manufacturers who
have expressed interest in the use of Kx for Sensors and kdb+ to
augment their current infrastructure.
WK Choi, Founder and CEO of BISTel, commented: "We are delighted
to partner with FD's talented team. Its highly innovative Kx
technology will integrate seamlessly with our solutions to help
factories to make quicker, better and more informed decisions on
the factory floor, which in turn will lead to increased engineering
effectiveness, improvements in quality and greatly reduced
costs."
Brian Conlon, Chief Executive Officer of FD, commented: "This is
a further important contract win for Kx in the Industrial Internet
of Things, reflecting our growing presence in this market and our
technology lead. Kx provides higher performance, greater
scalability and lower total cost of ownership than competing
solutions and we are engaged in multiple conversations across
manufacturing, and other industries, with potential customers
attracted by these benefits."
Enquiries
For further information please contact:
First Derivatives plc +44(0)28 3025 2242
Brian Conlon, Chief Executive Officer www.firstderivatives.com
Graham Ferguson, Chief Financial Officer
Ian Mitchell, Head of Investor Relations
Goodbody (ESM Adviser and Broker)
Linda Hickey
Finbarr Griffin +353 1 667 0420
FTI Consulting
Matt Dixon
Dwight Burden
Darius Alexander
Niamh Fogarty +44 (0)20 3727 1000
About FD
FD is a global technology provider with 20 years of experience
working with some of the world's largest finance, technology,
retail, pharma, manufacturing and energy institutions. The Group's
Kx technology, incorporating the kdb+ time-series database, is a
leader in high-performance, in-memory computing, streaming
analytics and operational intelligence. Kx delivers the best
possible performance and flexibility for high-volume,
data-intensive analytics and applications across multiple
industries. FD operates from 14 offices across Europe, North
America and Asia Pacific, including its headquarters in Newry, and
employs more than 2,400 people worldwide.
For further information, please visit www.firstderivatives.com
and www.kx.com
About BISTel
BISTel is a leading provider of real-time, adaptive intelligence
solutions for smarter manufacturing. BISTel's data driven
manufacturing solutions collect and manage large data, monitor the
health of equipment, optimize process flows and quickly identify
root cause failures to mitigate risk. BISTel solutions help
customers reduce costs, improve quality, and increase yield.
Founded in 2000, BISTel has more than 370 employees worldwide. The
company is headquartered in South Korea, with offices in
California, China, Singapore and Texas. BISTel has a deep customer
following in semiconductors, FPD, and PCB/SMT manufacturing as well
as automotive, Biotech and steel manufacturing. Its new A.I. based
manufacturing intelligence platform will include new auto learning,
predictive, self-healing, and continuous improvement features that
accelerate smart manufacturing.
For more information visit bistel.com
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END
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