GemStone Systems Joins Forces with KPIT Cummins

11 August 2008

GemStone Systems, the leading provider of the Enterprise Data Fabricâ„¢ (EDF) and KPIT Cummins Infosystems Ltd. (BSE: 532400; NSE: KPIT), an IT consulting firm with niche focus in Diversified Financial Services, today announced a strategic alliance to offer high performance computing (HPC) and cluster management solutions to global corporations across US, India, Japan and Europe.

Securities and Asset Management firms with high volume transaction processing, especially in the fixed income and derivatives business are today facing problems of increasing volumes, complex instruments, and a need for increased IT performance.

This strategic alliance would leverage KPIT Cummins’ expertise in high transaction volume systems for global securities, asset management and payment processing firms using Gemstone’s flagship product GemFire. Customers would benefit from GemFire solution, which provides very low latency, high throughput data sharing, event distribution, high resiliency and scalability.

• Securities and Asset Management firms would get a very low latency, high throughput data sharing and scalable solution for high volume STP transaction processing
• GemFire’s high speed data access will allow customers to capitalize on near real-time data availability.

Commenting on the alliance Pawan Sharma, Head Diversified Financial Services & President – KPIT Cummins Global Business Solutions said that “Asset management firms processing high data volumes and spread across the globe need highly available, real-time data access and analysis to support better decision-making. Our customers can now depend on us for innovative solutions in grid computing and extreme transaction processing (XTP), which is the need of the hour. The alliance will strengthen our off-shore and near-shore based delivery and support teams.”

Juan Menendez, senior vice president of Business Development, GemStone Systems said, “With emerging opportunities in the US, Europe and Indian markets, it is critical for us to have a global partner like KPIT Cummins to deliver services and value to our customers. KPIT Cummins’ years’ of experience, in executing high volume critical applications creates opportunities for us to deploy high end solutions across verticals and to tap into their extensive customer base.”

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