SOURCE: First Derivatives plc

First Derivatives plc

SOURCE: Affinity Systems Limited

Affinity Systems Limited

April 01, 2015 09:00 ET

FD Acquires Affinity Systems to Expand Its Big Data Offerings With Unique Sensor Data Solution

Acquisition Builds on 25 Years of Delivering High-Performance Solutions and Provides New Growth Opportunities for Internet of Things

MISSISSAUGA, ON--(Marketwired - April 01, 2015) - First Derivatives plc (FD) is pleased to announce that it has acquired Affinity Systems Limited, an award-winning custom solution developer with twenty-five years of experience delivering innovative technology solutions. The strategic acquisition expands both Affinity's and FD's software and consulting services within the Internet of Things, particularly in industries such as utilities, healthcare and finance, and supports FD's strategy to penetrate additional vertical sectors using the capabilities of its Delta platform and kdb+ to capture and analyze large volumes of streaming and historical data.

The existing management team at Affinity will continue to lead the Company.

FD is a global technology provider with nearly 20 years of experience working with some of the world's largest finance, technology and energy institutions. FD owns 65% of Kx Systems, a developer of world-leading database technology kdb+.

Affinity is a software development company that specializes in high-performance data applications, web site development, and quality assurance services. Over the past two years, Affinity has developed a Sensor Data Management solution that uses the power of Kx's kdb+ database. The solution is designed to ingest tens of millions of records a second, support hundreds of billions of records, and respond to time-series queries with millisecond latency.

The purchase enables the expansion of the Affinity team to serve the demand for significant new sensor data management applications, while continuing to grow its existing broad customer base. No staff or management changes occur as a result of the acquisition. The technical team will continue to specialize in Microsoft, Java and open source solutions for clients across many verticals including healthcare, utilities, finance, retail, and social media.

"Affinity differentiates itself on its deep domain knowledge and its ability to solve complex problems through the development of well-architected solutions," said Leslie Goldsmith, Managing Director of Affinity Systems. "In recent years, this has led us deeper into big data applications with low latency challenges. Through our relationship with Kx Systems, we have been able to create products that leverage the power of kdb+ to ingest and analyze vast quantities of data across a number of vertical sectors." Hugh Hyndman, Managing Director of Affinity Systems added, "With the resources of FD available to us, we will be expanding our custom software development business, as well as accelerating our product development and applying it globally."

Brian Conlon, Chief Executive Officer of FD, commented: "Affinity is a natural fit for FD. The combination of software products built on kdb+, the world's most powerful database, and the fact that Affinity brings to the Company depth and breadth of technical solutions across a number of new verticals makes this a very strategic move. We see this as an exciting opportunity for the Company to grow its revenues and diversify its customer base."

About First Derivatives

FD is a global technology provider with nearly 20 years of experience of working with some of the world's largest finance, technology and energy institutions. It holds a 65% stake in Palo Alto-based Kx Systems, developer of the world-leading database technology, kdb+. It employs over 1,200 people worldwide and has operations in London, New York, Stockholm, Singapore, Hong Kong, Tokyo, Sydney, Toronto, Philadelphia, Dublin and its headquarters in Newry, Northern Ireland.

For further information, please visit www.firstderivatives.com.

About Affinity Systems

For 25 years, Affinity Systems has been building world-class custom software solutions. Affinity combines broad industry experience with deep technical knowledge to deliver unrivalled and insightful solutions that exceed expectations. Affinity has an extensive record of tackling complex software challenges from design and development through implementation and support. In partnership with Kx Systems and Microsoft, Affinity has developed sophisticated software solutions for big data challenges for clients in the energy, financial and telecommunication sectors.

For further information, please visit www.affsys.com.

Product or service names mentioned herein may be the trademarks of their respective owners.

Contact Information

  • For additional information:
    Suzanne Andracchio
    Director, Sales and Marketing
    Affinity Systems Limited
    Mississauga, Ontario
    905-278-9444 x 246
    SAndracchio@affsys.com