First Derivatives plc: 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."

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