TORONTO, Aug. 6, 2024
/CNW/ - AGEDB Technology Ltd. ("AGEDB" or
the "Company") (TSXV: AGET), a leading provider of
graph database software and services, today announced a strategic
joint R&D agreement with Ovation Solutions Inc. and Bitnine
co., Ltd. This collaboration aims to integrate AGEDB's Apache
AGE-based graph database and Bitnine's AgensSQL GenAI into
Microsoft Azure Stack Hub, significantly enhancing its capabilities
for enterprise customers.
Key Highlights of the Agreement:
- Joint R&D: As a recognized Microsoft partner,
Ovation Solutions will lead the joint R&D efforts to integrate
AGEDB's Apache AGE-based graph database and Bitnine's AgensSQL
GenAI into Microsoft Azure Stack Hub. Their expertise ensures a
seamless integration and management of the integrated Azure Stack
Hub solutions.
- Advanced Capabilities: The integration of Apache
AGE-based graph database and AgensSQL GenAI will provide Azure
Stack Hub with advanced graph database functionalities and
AI-driven analytics for improved security and operational
insights.
- Significant Investment in Innovation: The joint R&D
project represents a substantial commitment from AGEDB, Ovation
Solutions, Bitnine, and Microsoft. This collaboration underscores
the importance of advancing Azure Stack Hub's technological
capabilities and delivering enhanced solutions to enterprise
clients.
Roles and Responsibilities:
- Ovation Solutions: Responsible for technology
integration, implementation services, ongoing support, market
readiness, performance monitoring, resource allocation, and
facilitating joint R&D collaboration.
- AGEDB Technology: Focused on the development of Apache
AGE-based graph database, providing technical support, regular
updates, and conducting training sessions.
- Bitnine: Tasked with developing AI-powered analytics,
implementing real-time monitoring tools, and offering advanced
technical support
- Microsoft: Provides technical guidance, compliance and
certification support, ensuring the software meets Azure Stack
Hub's security, performance, and operational standards.
Financial Terms:
Ovation Solutions will compensate AGEDB with a total of
$3 million USD for the software and
services provided, with payments structured across various project
milestones.
About AGEDB Technology Ltd.
AGEDB Technology Ltd. specializes in graph database software and
services, delivering innovative technologies to enhance data
management and security for businesses worldwide. With a focus on
cutting-edge research and development, AGEDB is committed to
driving technological advancements in the database and AI
markets.
About Ovation Solutions Inc.
Ovation Solutions Inc. is a leading provider of system
integration and implementation services. As a trusted and highly
integrated partner of Microsoft, Ovation provides a wide range of
data and AI solutions to enterprises based on Microsoft products,
which highlights Ovation's strong relationship with Microsoft.
About Bitnine Co., Ltd.
Bitnine Co., Ltd. is a leader in PostgreSQL, graph database and
AI technologies. Through continuous innovation and expertise in
data solutions, Bitnine empowers organizations to harness the power
of data for informed decision-making and enhanced security.
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Provider (as that term is defined in the policies of the TSX
Venture Exchange) accepts responsibility for the adequacy or
accuracy of this release.
This news release contains statements that constitute
"forward-looking statements." Such forward looking statements
involve known and unknown risks, uncertainties and other factors
that may cause AGEDB Technology Ltd.'s actual
results, performance or achievements, or developments in the
industry to differ materially from the anticipated results,
performance or achievements expressed or implied by such
forward-looking statements. Forward looking statements are
statements that are not historical facts and are generally, but not
always, identified by the words "expects," "plans," "anticipates,"
"believes," "intends," "estimates," "projects," "potential" and
similar expressions, or that events or conditions "will," "would,"
"may," "could" or "should" occur.
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SOURCE AGEDB Technology Ltd.