Minimum $2.5 Million Systems Purchase Targeted in Next 24 MonthsReston, VA — InferX Corporation (OTCBB: IFRX), a leading provider of next generation business intelligence solutions and predictive data analytics technologies for government agencies and commercial firms, today announced signing an MOU with The Irus Group, Inc. (www.irusgroup.com), a leading provider of business intelligence and performance management services. InferX Corporation and The Irus Group are jointly pursuing near term contract opportunities with several government agencies, including the FAA and Department of Homeland Security, several leading financial institutions, a major global system integration firm and a leading health care organization.
Under terms of the MOU, The Irus Group will serve as an OEM, license InferX software at a discount, and integrate its Business Intelligence, Corporate Performance Management and other widely adopted solutions with InferX proprietary predictive analytics technology to deliver next generation business performance, security and business intelligence solutions for corporate and government clients, in the United States and globally.
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 ability to enhance our current portfolio of business performance management solutions with InferX's real time, distributed predictive analytics technology provides a new competitive edge," said Vijay Suri, CEO of The Irus Group. "We are optimistic about the outlook based on our ongoing meetings with potential major clients in both the commercial and government sectors," said Suri.
InferX will train Irus Group technical and project management staff on InferX's products and technology and ensure active Irus Group participation in InferX sponsored events. The Irus Group will share its engineering and data analysis capability with InferX to deliver next generation business intelligence and security solutions. Under terms of the MOU, The IRUS Group agrees to purchase a minimum of $2.5 million of InferX system software to support potential contracts, subject to business terms to be negotiated, during the next 24 months.
"Next generation business performance management, business intelligence and security support systems must quickly access large amounts of widely distributed global data, often with varying protocols, structures and formats," said B.K. Gogia, Chairman of the Board. "InferX's proprietary technology complements the Irus Group's proven solutions portfolio with a key feature — real-time global access to globally distributed structured and unstructured data sources, eliminating the need for centralized data warehousing which now offers new exciting performance management options for users," said Gogia.
About InferXInferX (OTCBB: IFRX) is a market leader in next generation business intelligence solutions and predictive analytics technologies. InferX 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 databases;
- InferText, a technology that accesses, analyzes and performs predictive analyses on documents, reports, e-mails and other texts;
- 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.
About The Irus GroupThe IRUS Group, a top business intelligence and corporate performance management solution provider to government agencies and commercial entities, helps organizations across many vertical markets turn their data into information and their information into knowledge, which leads to better business decisions. The company has a long history providing planning and budgeting solutions to financial management at some of the world's largest commercial and government customers. The Irus Group has particular domain expertise in business intelligence solutions such as Oracle Business Intelligence Enterprise Edition (OBIEE) and Cognos business intelligence solutions. A Microsoft Gold Certified partner, The Irus Goup also provides Microsoft business application development solutions including .Net development. The Irus Group is based in Sterling, VA. Visit The Irus Group at www.irusgroup.com.
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 the Company to alter its present business strategy, the Company's ability to attract management capable of implementing the Company's existing or future business strategy and the risk factors set forth in the Company'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.