FD (AIM: FDP.L, ESM: FDP.I) announces that it has signed an agreement with Airbus Defence and Space to develop an innovative approach for large scale processing of geospatial data using its KX analytics platform. A wide number of additional applications have been identified and the objective is to commercially exploit these by combining KX technology and data from Airbus Defence and Space assets.
Under the agreement, Airbus will contribute historic and future satellite imagery which KX technology will process, interpret and manage. Technical, commercial, sales and marketing resources will be provided by both parties to assist in the commercialisation of the opportunities.
Data manipulation and information provision, stemming from increased volumes of Earth Observation data, provides significant commercial potential, with KX and Airbus Defence and Space well-placed to lead this emerging market. KX technology will be deployed in the time-critical processing and analysis of these increasing data volumes to make it easier, cheaper and faster for customers to access information. According to Transparency Market Research, the commercial satellite imaging market is expected to grow from $2.5 billion in 2014 to $6.5 billion in 2023.
It is anticipated that KX and Airbus Defence and Space will collaborate with large corporates, research bodies and start-ups to help exploit this ground-breaking technology in markets such as energy, rail/civil engineering, natural resources, maritime surveillance, agriculture, finance and facilities management.
Dr. Anthony Denniss, Head of Solutions & Imagery Portfolio at Airbus Defence and Space, commented: “There are many valuable applications of satellite imagery across a range of industries, many of which are time sensitive and require powerful analytic processing. By combining our data and KX technology we expect to be able to provide new and existing customers with unique and valuable insights.”
Brian Conlon, Chief Executive Officer of FD, commented: “Yet again KX has proven its marketleading capabilities in regard to its ability to process very large datasets efficiently. We are excited about partnering with Airbus Defence and Space and the potential for innovative, scientific breakthroughs in multiple markets that can potentially arise from this initiative.”
For further information please contact:
First Derivatives plc
Brian Conlon, Chief Executive Officer
Graham Ferguson, Chief Financial Officer
Ian Mitchell, Head of Investor Relations
+44(0)28 3025 2242
Investec Bank plc (Nominated Adviser and Broker)
Dominic Emery Carlton Nelson
+44 (0)20 7597 4000
Sebastian Lawrence Goodbody (ESM Adviser and Broker)
Linda Hickey Finbarr Griffin +353 1 667 0420
+44 (0)20 3727 1000
FD is a global technology provider with 20 years of experience. The Group’s KX technology is used by some of the world’s largest finance, technology and energy institutions. FD employs over 1,700 people worldwide and has operations in London, New York, Stockholm, Singapore, Hong Kong, Tokyo, Sydney, Palo Alto, Toronto, Philadelphia, Dublin, Belfast and its headquarters in Newry.
For further information, please visit www.firstderivatives.com