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Thursday 12 July 2018

First Derivatives buys out Kx and goes into space

logoNewry-based First Derivatives had already established itself as a leading provider to the financial markets sector, with high profiles deals such as with IEX (as written up in “Flash Boys”) promising a big future in big data. However, it wasn’t until October 2014 that the management made the crucial decision to buy a controlling majority stake in Californian company Kx systems which developed the high performance, in-memory database through which the obvious potential of First Derivatives was to be delivered. The company has now moved to acquire the outstanding shares, paying a further US$53.8m on terms agreed back when the earlier deal was done. This tidying up of an important strategic relationship should provide additional certainty as to progress in the next phase of this group, much-enlarged through acquisitions and initiatives into other industry sectors. Since October 2014, the shares have more than quadrupled, with the market capitalisation now standing at over £1bn. The company has recently reported results for the year to end February, showing revenue of £186m and EBITDA of £34m.

tess-mitThe company has also announced an extension of Kx’s work with NASA. Here Kx’s ability to analyse huge volumes of data is to be deployed to monitor solar activity to predict space weather. The company will also apply artificial intelligence and machine learning techniques to support the new NASA Transiting Exoplanet Survey Satellite as it sets out to find new planets in the nearer parts of the universe. Truly out of this world!

Posted by Peter Roe at '08:59' - Tagged: software   big+data   space   M&A  

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