Posted on Monday 16 July 2018 by John Mulgrew
Newry-based global financial services software firm First Derivatives has landed a deal with Finland’s electricity transmission operator.
The firm, headed by Brian Conlon, will deliver the “next-generation electricity information exchange for Fingrid”.
This project aims to help “create a better experience for consumers” while “enabling greater efficiency and the ability to cope with the explosion of data”.
The deal will use the firm’s Kx software, which is already being used outside of the finance sector in a raft of areas including by the Red Bull Racing Formula One team.
Brian Conlon, chief executive of First Derivatives, said: “The combination of CGI, with its market-leading CMS system, and Kx for Sensors creates a compelling solution that helped secure this contract with Fingrid in a competitive and rigorous process.
“We believe other operators in the energy ecosystem will see the advantage that the use of high performance data solutions powered by Kx can bring to transform their operations and look forward to working with them to secure these benefits.”
Leena-Mari Lahteenmaa, senior vice president of CGI Finland, said: “Fingrid is a forward-thinking transmission systems operator and its datahub will introduce multiple benefits for the Finnish electricity market.
“A key component of the delivery of these benefits is the high performance and lower total cost of ownership of Kx, particularly its proven capability to handle data at scale. Together, CGI and Kx’s products create a powerful solution in a rapidly evolving market.””