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KX parent First Derivatives, a leading provider of software and consulting services, has signed a Memorandum of Understanding with Utilismart Corporation, a meter data management and analytics company with more than 100 clients including electricity, water and gas utilities across North America. The MOU is expected to lead to an agreement to use the Group’s KX technology for sensor analytics in conjunction with Utilismart’s suite of smart grid software applications, to support the management of Utilismart’s customers’ meter and sensor data, including data collection, processing and analytic services for engineering, operations, customer service, metering and billing.
Under the proposed agreement, FD will provide the KX technology and related infrastructure to complement Utilismart’s existing solution. This will significantly enhance Utilismart’s ability to serve this high growth segment immediately and keep pace with new customer demand related to the Internet of Things connected to utility infrastructure. It will be delivered as a Cloud-based solution and is expected to be installed by Q3 2016 with FD being remunerated on a monthly recurring revenue share basis for additional meters installed.
Utilismart selected the KX-based solution following detailed evaluation of competing solutions and their ability to capture, store and manipulate big fast data sets. When implemented, the system will provide a significant installed user base for the Group’s sensor data platform.
John Avdoulos, President, Utilismart, commented: “Utilities are changing and the utilities of the future will look dramatically different from utilities of today. As more sensors and devices are deployed and as the utility is transformed, the marriage of Utilismart’s Online Data Solution and FD’s KX technology for sensor analytics will revolutionize how utilities use data.”
Brian Conlon, Chief Executive Officer of FD, commented: “We are delighted to partner with Utilismart and look forward to delivering innovative solutions to its existing and new utility customers. This is a landmark agreement for FD in further propagating the KX technology. It further evidences our belief that our technology is ideally suited for the processing and analysis of sensor data and will provide reference clients across the Internet of Things, electricity, water and gas industries.”
KX has been the software leader for complex analytics on massive-scale streaming data for over two decades. The KX technology is an established and trusted standard for trading, surveillance and research in financial services. KX has emerged as the elegant, integrated solution to the analytic needs of the pharma, retail, utilities and high-tech manufacturing industries; scaling effortlessly to the data challenges of the Internet of Things.
With more than 100 major global corporations as clients, KX works closely with its user group to drive and prioritize its research and development so that it delivers the most innovative software, tools, solutions and services to solve its customers’ business needs. As the Internet of Things creates never before seen volumes of structured machine data, new industries are embracing KX technology’s proven ability to store and analyze data in real-time.
KX is a division of First Derivatives plc. Listed on the London Stock Exchange [FDP:LN] First Derivatives is a specialist software and consulting organization with an uninterrupted track record of customer success and profitable growth since it was listed in 2002.
For more information about KX, please visit www.devweb.kx.com.
About First Derivatives
First Derivatives plc (FD) is a global technology provider whose services and solutions are used by many of the world’s largest companies. In addition to KX, the FD Group includes MRP and Capital Markets Consulting, CMC.
MRP is a global provider of marketing intelligence, software and services. MRP drives sales pipelines and delivers the insights clients need to more effectively sell to their key target markets. CMC supports financial institutions in designing, developing, implementing and supporting a broad range of mission-critical data and trading systems across front, middle and back-office operations. Services are provided both on-site and from its strategically located Near Shore centers.
FD is quoted on the London Stock Exchange (FDP:LN) and has had double-digit revenue growth every year since it was incorporated in 1996. FD has over 1,500 employees around the world, including in London, New York, Tokyo, Singapore, Sydney, Palo Alto, Toronto, Ottawa, Belfast, Dublin, and its headquarters in Newry.
For more information, please visit www.firstderivatives.com.
This article is modified from a press release issued by FD on 14 January 2016