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 Financial technology firm First Derivatives has agreed a deal with BISTel, a provider of smart manufacturing solutions headquartered in South Korea.

The deal will see the South Korean firm use the Newry-based company's Kx for Sensors and kdb+ products in its product line. 

FD said that under the terms of the deal, many of BISTel's products will have "Kx Inside" within the next two years, with the first deployments expected in the first half of 2019.

BISTel supplies adaptive intelligence (AI) applications that combine embedded human knowledge and advanced engineering automation solutions to help factories to better detect, analyse, predict, and prescribe solutions to complex manufacturing problems in real-time.

"This is a further important contract win for Kx in the Industrial Internet of Things, reflecting our growing presence in this market and our technology lead," commented Brian Conlon, chief executive of FD. 

"Kx provides higher performance, greater scalability and lower total cost of ownership than competing solutions and we are engaged in multiple conversations across manufacturing, and other industries, with potential customers attracted by these benefits," he added.