Infonic Extends Contract with Thomson Reuters
Ending in a significant extension of existing contract.
Amherst, MA (PRWEB) December 4, 2008 -- Infonic plc, the UK AIM-listed provider of innovative information management software, announces today the signing of a significant extension to an existing contract between Thomson Reuters (NYSE:TRI; TSX:TRI; LSE:TRIL; NASDAQ:TRIN) and one of Infonic's subsidiary companies (Lexalytics Limited). The amendment agreement will enable Infonic developers to make key enhancements to the Reuters NewsScope Sentiment Engine ("RNSE"), a real-time news sentiment scoring service designed for financial institutions.
Under the terms of the amendment, Infonic will extend the asset class coverage for RNSE. The investment will also advance the development of a foreign language scoring system to add to the existing English-language service.
RNSE enables Thomson Reuters to supply financial institutions with a unique set of news sentiment, relevance, and novelty indicators for use in algorithmic trading systems as well as risk management and human decision support processes. These scores can be used by trading desks and quantitative research analysts to better predict the movement of share prices. RNSE is a key element within the Thomson Reuters Quantitative and Event Driven Trading product suite, which offers the financial community comprehensive real-time trading and back-testing investment tools.
Mike Powell, Global Head of Enterprise Information, Thomson Reuters, commented, "Thomson Reuters is committed to delivering intelligent information to our customers, and this additional investment in a key strategic product set enables Thomson Reuters to continue to be a market leader in the development of innovative and unique investment tools. We're delighted to expand our successful relationship with Infonic as part of our overall investment in cutting edge trading solutions."
Mark Thompson, Chief Executive of Infonic said, "The expansion of our collaboration with Thomson Reuters is a huge endorsement of our proprietary text analytics technology. RNSE now scores sentiment on over 8,000 companies. We are confident that the development of further enhancements to our product will help drive future revenues."
From January to October 2008 Infonic's text analytics division invoiced clients £2.03 million which includes the payment from Thomson Reuters referred to in the Interim Results Statement on 29 September 2008.
For further information please visit www.infonic.com or contact:
Infonic plc
Mark Thompson, Chief Executive
Tel: +44 (0) 1483 443000
Parkgreen Communications Limited
Paul McManus
Tel: +44 (0) 20 7933 8787
Mob: +44 (0) 7980 541 893
paul.mcmanus at parkgreenmedia dot com
FinnCap
Geoff Nash/Rose Herbert
Tel: +44 (0) 20 7600 1658
About Infonic plc:
Infonic is a global leader in providing unique software focusing on document and text capture, distribution and analysis. Infonic's software is used every day to improve efficiency for some of the world's leading companies, military and maritime organisations and government departments.
Infonic was founded in 2000 and listed on AIM in 2003 (previously named Corpora plc).
Infonic makes three core software technologies:
Geo-Replicator software uses powerful, patented data compression and synchronisation technology to replicate data rapidly between servers and laptops and server-to-server. This is vital where servers are separated geographically and data transmission would ordinarily be slow and where personnel work remotely but need access to replicated data in the field.
Document Management software makes possible the digital capture, storage, search and retrieval of any type of document, including scanned images, word documents, e-mails and PDFs. Our software enables businesses to dispense with hard copy filing and stores documents in secure folder systems which permitted users can access simultaneously.
Text Analytics software automatically understands, analyses and reports on the underlying events and sentiment behind thousands of news stories, reading unstructured news in milliseconds and presenting the end user with an instant understanding of content. Sentiment has a number of applications such as giving financial traders a time advantage in understanding whether the news sentiment behind a stock is positive, negative or neutral.
###
|
