First Derivatives : Major oilfield services contract win

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First Derivatives PLC - FDP Major oilfield services contract win Released 07:00 17-Feb-2020

RNS Number : 1121D

First Derivatives PLC

17 February 2020

17 February 2020

First Derivatives plc

('FD' or the 'Group')

Major oilfield services contract win

FD (AIM: FDP.L, ESM: FDP.I) announces that it has been selected by a leading global oilfield services company for the use of Kx technology to provide operational intelligence for their customers' oil and gas field assets. This contract, awarded after a thorough technology evaluation by the client, extends the range of Kx use cases within the energy market and showcases the ability of Kx to deliver actionable insights at the edge.

The flexibility and open nature of the Kx platform will enable new processes and data-intensive analytics to be added as required both in the field and centrally.

Using Kx technology to deliver big data levels of analytic capability to the edge, where compute resources are limited, will enable the client to increase efficiency. This represents a new use case for Kx, which the client expects to generate a high return on investment and should be of interest across the broader energy and industrial IoT markets.

Seamus Keating, Chief Executive Officer, FD commented:'Making decisions at the time and place where action is required can deliver major operational efficiencies. We believe Kx is the only technology capable of delivering this solution, enabling decision-making in real-time on vast volumes of data. As organisations increasingly look to drive action, not just reports from the data they generate, Kx stands out for its high performance and ability to operate at the edge.'

Enquiries

For further information please contact:

First Derivatives plc Seamus Keating, Chief Executive Officer Graham Ferguson, Chief Financial Officer Ian Mitchell, Head of Investor Relations	[phone] www.firstderivatives.com
Investec Bank plc (Nominated Adviser and Broker) Andrew Pinder Carlton Nelson Sebastian Lawrence	[phone]
Goodbody (Euronext Growth Adviser and Broker) David Kearney Don Harrington Finbarr Griffin	[phone]
FTI Consulting Matt Dixon Dwight Burden Darius Alexander	[phone]

About FD

FD is a global technology provider with more than 20 years of experience working with some of the world's largest finance, technology, automotive, utility, 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 15 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

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Major oilfield services contract win - RNS