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Screenshot of a breaking news alert e-mail from Q2 2017
Provider of software and consulting services First Derivatives plc (LON:FDP) is further expanding the footprint of its Kx technology via a partnership with Utilismart Corporation, a meter data management and analytics company with more than 100 clients including electricity, water and gas utilities across North America.
FD said today that it has signed a Memorandum of Understanding with Utilismart, in a move set to lead to an agreement to use the 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 is set to improve 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 the third quarter of 2016.
Utilismart selected the Kx-based solution following through review of competing solutions and their ability to capture, store and manipulate big fast data sets.
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 revolutionise 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.”
You can view the official announcement from First Derivatives by clicking here.