Deal would see companies team up to commercialise satellite imaging big data
Companies: Airbus SE, FD Technologies PLC
IT service management firm First Derivatives announced on Tuesday that it has signed an agreement with French aerospace giant to develop systems for processing geospatial data using its Kx analytics platform.
The FTSE 250 firm said that under the agreement, Airbus would contribute historic and future satellite imagery for Kx technology to process, interpret and manage, whilst technical, commercial, sales and marketing resources would be provided by both parties to assist in commercialisation opportunities.
In a regulatory news update, FD said it anticipated that the Kx and Airbus deal would allow it to collaborate with large corporates, research bodies and start-ups to exploit this technology in a variety of industries, including energy, rail/civil engineering, natural resources, maritime surveillance, agriculture, finance and facilities management.
Head of Solutions & Imagery Portfolio at Airbus Dr Anthony Denniss said there were many applications of satellite imagery across a range of industries:
"By combining our data and Kx technology we expect to be able to provide new and existing customers with unique and valuable insights."
Whilst FD CEO Brian Conlon said:
"Yet again Kx has proven its market-leading capabilities in regard to its ability to process very large datasets efficiently. We are excited about partnering with Airbus Defence and Space and the potential for innovative, scientific breakthroughs in multiple markets that can potentially arise from this initiative."
Shares in FD jumped 4% in early trading before falling back slightly.
