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New York, July 14, 2004 - Matrix today announced that it will distribute the GigaSpaces Grid Server for real-time business applications.
GigaSpaces, a Formula Group company, specializes in developing grid infrastructure for computing environments requiring high-speed and real-time data or transaction processing, especially for companies in the telecommunication and financial services markets.
The GigaSpaces grid server enables massive processing of real-time transactions in open environments, such as Linux over blade servers. The GigaSpaces grid architecture enables dynamic allocation of computing resources such as processors, memory and databases - as opposed to today's systems which use static resource allocation, planned according to peak load. This dynamic allocation enables drastic cost reductions.
"The GigaSpaces Grid Server is unique in its real-time processing ability, and is already selling successfully. Matrix started marketing the product in response to an increased interest shown by Israeli clients for a real-time processing grid solution," said Nathan Gavish, director of Matrix's Software Products Division.
"GigaSpaces' unique grid solution allows high-speed processing, and the sharing and distribution of high volumes of data at significantly lower costs than any other infrastructure solution", said Yaron Benvenisti, GigaSpaces CEO. "As such, it is suitable for information systems which require high-speed data processing in distributed environments. We believe that Matrix' in-depth knowledge of the local market will assist us bringing the benefits already enjoyed by our international clients to Israeli clients as well," he added.
About GigaSpaces
GigaSpaces offers the first grid server for real-time distributed transaction processing. Specifically designed to enable the high-speed execution of business applications with high and volatile transaction volumes, GigaSpaces enables grid architecture over low-cost open platforms - such blade and Linux servers.
Headquartered in New York with an R&D center in Israel, GigaSpaces' technology is used by major financial, telecom and manufacturing organizations worldwide such as AIG, Nortel Networks, Hutchison 3G, and Tadiran Telecom. The company was founded in 2000, and is a subsidiary of Formula Vision (TASE: FVT), and part of the Formula Group (NASDAQ: FORTY), Israel's largest publicly held IT company.
About Matrix Software
Matrix Software Products Division represents several market-leading software companies in Israel in the fields of CRM (PeopleSoft), Sales Opportunity Identification (Ingeneo), System Management (Computeware, BMC Software), Data Security (BindView), Business Insight (Business Objects), Knowledge Management (Verity, Virtual Self), eBusiness Solutions (Vignette, QUOVA), Integration Solutions (Ascential, Datastage, IONA, Web Methods), and development tools (Borland). Matrix is the leading Integration and IT projects company in Israel, with approximately 1900 employees, and an annual sales turnover of around NIS 800 million. The company is traded on the Tel Aviv Stock Exchange.
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