Kx Systems gets expanded investment from shareholder First Derivatives

31 Oct 2014 | , , , , ,
Share on:

Palo Alto, CA (31 Oct 2014) – Kx Systems (Kx) announced today that long-time partner First Derivatives is now a majority shareholder ownership of Kx from 20% to roughly 65%.

Janet Lustgarten, CEO Kx Systems, commented on the deal: “The transaction will allow Kx to significantly increase its financial investment in marketing and sales to help us expand into new industries. First Derivatives has trained hundreds of programmers in our technology over the years and we will also use this great pool of engineers to help us branch out into new verticals.”

Already well-established in the financial services sector, the deal will provide more resources to Kx for its growth into the software, utilities, and pharmaceutical sectors. It will also help Kx promote the adoption of its technology through its Grassroots initiative that supports programmers using the free 32-bit version of its software.

Lustgarten continued: “Development of a global talent pool has been a trademark of our partnership for years. We will continue to work together to build a vibrant network of programmers that will help drive the adoption of our technology in these new verticals.”

The deal will also provide resources to enable Kx to grow its network of partners that provide sales, consulting and training in kdb+, as well as OEM customers who sell products powered by kdb+. First Derivatives will continue as both a Kx OEM customer and training and consulting partner.

“With the advent of Big Data analytics and the Internet of Things, the database world is undergoing vibrant growth and evolution,” said Lustgarten. “We are making this strategic deal at this time to better capitalize on that opportunity.”

The company will operate independently of First Derivatives, which is based in Newry, Northern Ireland. Co-founder Janet Lustgarten will continue as a shareholder and CEO. Co-founder Arthur Whitney will continue to be a shareholder, Chairman and the head of the company’s research and development efforts. All other personnel will continue in the same roles.

© 2018 Kx Systems
Kx® and kdb+ are registered trademarks of Kx Systems, Inc., a subsidiary of First Derivatives plc.


Kx parent FD, announces Interim results for the six months ended 31 August 2017

7 Nov 2017 | , ,

FD (AIM:FDP.L, ESM:FDP.I) today announces its results for the six months ended 31 August 2017. Strong growth in software revenue, up by 32% to £52.2m (H1 2017:£39.5m), with recurring software revenue up by 44% to £19.6m (H1 2017: £13.6m). Strong demand and strategic progression in Managed Services and Consulting with revenue growth of 8% to £35.6m (H1 2017: £32.9m).

Kx parent FD, awarded top UK Tech Company of the Year 2017

2 Nov 2017 | , ,

Kx is pleased to announce that its parent company, First Derivatives plc (FD), won the top UK Tech Company award at the UK Tech Awards 2017 gala on 2 November 2017.
The annual UK tech awards “celebrate success, reward achievement and raise the profile of the UK tech community.  Companies which are eligible for the awards include not only publicly quoted technology companies on the London Stock Exchange’s Main Market, but also AIM tech companies and fast growing and innovative private tech companies,” according to the awards group.