Ovation Solutions will compensate AGEDB with a total of $3 million USD for the software and services provided
TORONTO, Aug. 6, 2024 /PRNewswire/: 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 databases 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.
Also read: Achieving Rapid Outcomes with AI-Driven Cloud Analytics
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