In Memory Database Software Platform Acquisition Strengthens Sysorex’s Big Data Analytics Product Offerings
PALO ALTO, Calif. – Big data software solutions and infrastructure provider Sysorex (NASDAQ: SYRX) today announced it has completed the acquisition of substantially all the assets of LightMiner Systems, including all intellectual property related to its high-speed database management system. Sysorex purchased the big data analytics software platform and the two pending patent applications relating to it for approximately $3.78 million payable in Sysorex common stock to be issued one year from the closing date with the number of shares calculated based on a trailing 20-day volume weighted daily average price with a $2.00 minimum floor. In addition LightMiner Systems founder Chris Baskett will join Sysorex as Vice President of Engineering reporting to Sysorex CTO Craig Harper.
“In today’s highly competitive, data-driven environment, organizations need the ability to manage rapidly growing volumes of information faster and with more flexibility,” said Nadir Ali, CEO of Sysorex. “We believe LightMiner Systems’ unique high speed database technology could enable Sysorex to leap to the forefront of an industry-wide race to manage and analyze massive amounts of data in near-real time on premise or in the cloud.”
The assets acquired from LightMiner Systems include an in-memory, real-time, data analysis system designed to perform very large, highly complex and extremely difficult calculations using off-the-shelf hardware and memory. It supports both traditional SQL-based business intelligence and analytics applications as well as a host of integrated statistical, machine learning and artificial intelligence algorithms allowing it to provide supercomputer-like performance at commodity prices.
“We expect LightMiner’s performance-to-cost ratio will allow Sysorex to take the sort of high end big data analytics that only the largest of enterprises can currently afford, and deliver it to thousands of mid-market and smaller enterprises that haven’t yet been able to take advantage of the big data revolution,” Ali said.
Sysorex expects to begin delivering the LightMiner Systems product both as an on-premise installation and as a service to customers later this year.
Through focused, custom technology solutions, Sysorex (NASDAQ:SYRX) provides cyber security, data analytics, cloud solutions, Mobile/BYOD solutions and strategic outsourcing to government and commercial clients in major industries around the world. From identifying security risks to helping clients realize value from their big data strategies, Sysorex has the experience, technology, partners, and agility to be your trusted IT partner. Visit Sysorex.com, follow @SysorexGlobal and Like us on Facebook.
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