First Derivatives plc: OEM Agreement With BISTel
October 17 2018 - 2:00AM
Business Wire
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."
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First DerivativesJordan Hendricks+44 28 3025 8366
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