DSSI Wins Follow-on Development Contract
St. Louis, MO (PRWEB) December 24, 2004 -- Data Search Systems Incorporated (DSSI) announced the successful completion of its first paid pilot system for the Federal intelligence market space. In its recently completed pilot for a Federal anti-terrorist application, the DSSI technology increased the speed of a text search application by over 20 times compared to that of agencys supercomputer—using commodity hardware. DSSI is now working with that agency to implement a full-scale implementation to replace a massively parallel multi-processor system with a DSSI solution costing an order of magnitude less while providing significantly better performance.
The engineering team is lead by Rod Arbaugh, Vice President Engineering, a Silicon Valley veteran with over 20 years experience in building product development teams for companies in the financial services and intelligence market spaces. DSSI attracted me with its top flight team and world-class technology, which can revolutionize the fundamental way we access information. I am excited by the positive results from our pilot in the Federal intelligence space. This gives us a solid beachhead to grow in our first target market," said Arbaugh. We are extremely positive about the performance of our technology in this application," said Dr. Ron Indeck, Das Family Distinguished Professor of Electrical Engineering, Washington University in St. Louis, It gives us confidence that the architectural approach adopted by our team in an academic environment is transferable to real world problems." Indeck is a member of the DSSI Technology Advisory Board and one of the multidisciplinary team that did the initial technology development at Washington University.
In a pilot earlier in 2004 for a large financial institutions business intelligence requirements, DSSI demonstrated field and record select features to pre-filter data to be mined from large tabular record sets, enabling one to two orders of magnitude decreases in the time required for data retrieval and downstream processing. DSSI will change its name to ‘Exegy Incorporated in January 2005. The root of the word Exegy is ‘exegesis, which means extraction of text for analysis and critical explanation. This better connotes what the Exegy systems do--extract data to create actionable intelligence and knowledge.
Unlike traditional data processing, the Exegy Knowledge-based Computer ArchitectureTM takes advantage of parallelism over large data stores to support massive scaling and very high bandwidth data throughput. The Exegy Knowledge ApplianceTM concentrates data into a target rich data stream, reducing network and server bottlenecks— transforming data analysis into a smaller, more tractable problem. In recent pilots, Exegy products increased data mining speeds by 20 to over 200 times per node.
The Exegy Knowledge Appliance and Knowledge RAIDTM systems for the financial services industry are based on high-reliability industry standard server and storage hardware mated with low-cost FPGA-based (Field Programmable Gate Array) computing technology. Placing highly parallel computing power in intimate connection with the data allows extremely fast information extraction for business intelligence and data mining applications by providing the speed of hardware with the flexibility of software. Because information is created from data at the source, Exegys solutions are scalable over even the largest data sets.
Exegy has developed its core product to integrate easily with legacy systems and applications. The Exegy solution embeds firmware filters into reconfigurable hardware positioned close to the data and is building a firmware applications library easily accessible by the application running on top. The library contains various fast data filtering and mapping functions that can run on the Exegy Storage-based Computing SystemTM at input speed, can be chained and are parallelizable and scalable over very large data sets. Some of these include: multi-term Boolean search; field and record select; approximate text match; encrypt/decrypt; compress/decompress; hashing; and .pdf file text extraction.
Incorporated in April 2003, Data Search Systems Inc. (Exegy) was formed to commercialize advanced data storage and high speed data searching and knowledge extraction technology developed at Washington University in St. Louis. The Company completed its initial capital raise—a private $2,000,000 Preferred A stock offering in June of that year—and increased its capital by an additional $1,000,000 in June 2004. The Company is currently raising additional equity capital to fund marketing and sales expansion and to penetrate the Wall Street market space.
Statements in this release that are forward-looking statements are based on current expectations and assumptions that are subject to risks and uncertainties. Actual results could differ materially because of factors such as: delays in product development; development cost overruns; market acceptance of new products or services; possible competitive technologies; and entry into markets with vigorous competition.
For more information:
Debb Wiedner, Manager Corporate Communications, 314-633-1800,
dwiedner@dssimail.com, dweidner@exegy.com (after 1 January).
The Companys website is currently www.datasearchsystems.com. Exegy
will migrate to its new website, www.exegy.com, in January 2005.
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