OEM agreement with BISTel
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:
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First Derivatives plc Brian Conlon, Chief Executive Officer Graham Ferguson, Chief Financial Officer Ian Mitchell, Head of Investor Relations |
+44(0)28 3025 2242 |
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Goodbody (ESM Adviser and Broker) Linda Hickey Finbarr Griffin |
+353 1 667 0420 |
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FTI Consulting Matt Dixon Dwight Burden Darius Alexander Niamh Fogarty
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+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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