17th Oct 2018 09:31
LONDON (Alliance News) - First Derivatives PLC said Wednesday it has signed an original equipment manufacturer deal with South Korean smart manufacturing firm BISTel.
The deal will see First Derivatives' Kx database used in BISTel's sensors and First Derivatives' kdb+ used in BISTel's product line.
"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," said Brian Conlon, chief executive of First Derivatives.
First deployments are expected in the first half of 2019.
Kx will be used as a technology to "store and analyse" volumes of sensor data within BISTel's "real-time, adaptive intelligence applications".
Conlon added: "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."
First Derivative said the agreement was reached after "a number" of proofs of concept, including direct comparisons with potential competitors.
The AIM-listed software services company expects the agreement to "facilitate direct discussions" with the "world's leading manufacturers".
Shares in First Derivatives were up 6.2% Wednesday at 3,240.00 pence each.
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