SOURCE: InferX Corporation

October 20, 2008 09:00 ET

InferX Appoints Roman Kyzyk Director Business Development for Financial Services and Insurance Sectors

MCLEAN, VA--(Marketwire - October 20, 2008) - InferX Corporation (OTCBB: IFRX) today announced the appointment of Roman Kyzyk as Director Business Development Financial Services and Insurance Sectors. InferX established the new position to address its expanding business opportunities for its new InferRISK™ products providing powerful new business intelligence, performance improvement and enterprise risk management tools for the financial and insurance sectors.

Since 2005, Mr. Kyzyk served as Managing Director at Draper Fisher Jurvetson Nexus, a venture fund focused on sourcing globally applicable technology for export within the Ukraine and emerging European countries. In 2002, Mr. Kyzyk also served as President and CEO at Meridien Partners Group, LLC, an investment banking and private equity advisory group. Mr. Kyzyk also served as Principal and Co-Founder, DKK, LLC and Executive Partners, where for more than 15 years he served as a global strategy advisor for alternate investment partnerships in private equity, venture capital, hedge funds, and to CEOs within a wide range of sectors including aerospace, defense, information technology, financial services, energy and manufacturing. Mr. Kyzyk also has more than 13 years sales and management experience within Xerox Corporation. Mr. Kyzyk holds a Bachelor of Arts degree from Fordham University and an MBA from the Wharton School of Business.

"I have been impressed with the capabilities of the InferX business intelligence solutions including the new InferRISK™ solutions," said Mr. Kyzyk. "The ability to use next generation predictive analytics technology to improve business performance, identify and mitigate risk and improve ROI is the target market for our new InferRISK™ solutions," said Kyzyk. "Based on discussions in progress with potential major users now, I foresee strong opportunities in the target financial and insurance sectors."

InferX pioneered and commercialized a powerful, proprietary suite of data analytical risk and threat assessment solutions. InferX was recently awarded its second patent for its real time, distributed predictive analytics and business intelligence system and has four additional patents pending.

The new InferRISK™ solutions are driven by InferX's patented real time, distributed, proven predictive analytics technology which was initially developed to address complex large scale, "mission critical" government applications. With customized GUIs, the new InferRISK™ products use InferX's structured four step workplan and rapid prototyping to deliver customized solutions addressing targeted end user business intelligence needs, typically with initial release within 90 days. To maximize client ROI, pricing for InferRISK™ solutions includes flexible software site leasing options based on number of users.

"Roman Kyzyk brings outstanding management and financial sector experience to InferX and we are pleased he is now member of the InferX team," said Paul B. Silverman, InferX's interim Chief Executive Officer. "The launch of the InferRISK™ financial sector solutions follows the same strategy we are using to develop our InferHEALTH™ solutions in the health care sector -- identify critical business management issues, identify 'actionable' business intelligence needs, drive product capabilities by end user needs rather than technology, and deliver targeted easy to use new business tools that build upon InferX's powerful, proven next generation predictive analytics technology. Complementing our current large scale systems initiatives in the government sector, we believe this targeted strategy maximizes value for our shareholders and clients," said Silverman.

About InferX:

InferX (OTCBB: IFRX) is a market leader in next generation business intelligence solutions and predictive analytics technologies. The Company has pioneered and commercialized a powerful, proprietary suite of advanced business intelligence and data analytical risk and threat assessment solutions including:

--  InferAgent, a technology that accesses, analyzes and performs
    predictive analyses in real-time on multiple, distributed, disparate
--  InferText, a technology that accesses, analyzes and performs
    predictive analyses on documents, reports, e-mails and other texts;
--  InferView, a best-of-breed data mining and visualization tool with a
    seamlessly integrated solutions package enabling users to discover and
    extract useful, business-critical information from large data sets;
--  InferCluster, a technology that allows users to automatically identify
    data clusters and outliers hidden in large amounts of data;
--  Distributed Data Analytics Platform (D2A), used to concurrently
    analyze data using InferAgent, InferText and InferCluster.

Starting in fourth quarter 2008, InferX is also developing new targeted business intelligence solutions addressing client needs in three target sectors; financial services, health care and energy. InferX is currently working with potential clients in health care to explore customized InferHealth™ solutions and with insurance and financial firms to explore customized InferRISK™ business intelligence solutions.

For more information visit the InferX website

This release contains various forward-looking statements within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934 which represent the company's expectations or beliefs concerning future events of the company's financial performance. These forward-looking statements are further qualified by important factors that could cause actual results to differ materially from those in the forward-looking statements including the Company's ability to obtain future financing on favorable terms, changes in the wireless and telecommunications industries that compel InferX to alter its present business strategy, InferX's ability to attract management capable of implementing InferX's existing or future business strategy and the risk factors set forth in InferX's SB-2 registration statement. Results actually achieved may differ materially from expected results included in these statements as a result of these factors or others.

Contact Information

  • InferX Corporation
    1600 International Drive
    Suite 110
    McLean, VA 22102-4860
    Tel 703.917.0880
    Fax 703.917.0563