TORONTO, Aug. 27,
2024 /CNW/ - AGEDB Technology Ltd.("AGEDB" or the
"Company") (TSXV: AGET), a leader in innovative graph database
solutions, is excited to announce a joint R&D collaboration
with Ovation Solutions Inc. and Bitnine Co. Ltd. (357880.KQ). This
strategic collaboration aims to integrate AGEDB's AgensGraph
Extension and Bitnine's AgensSQL GenAI into Microsoft Azure Stack
Hub, significantly advancing the platform's graph database and
AI-driven analytics capabilities.
- Integration of AgensGraph Extension: AGEDB will provide
its AgensGraph Extension, an innovative graph database plug-in
designed to improve Azure Stack Hub's graph database capabilities,
enabling more efficient interconnected data management.
- AI-Powered Analytics with AgensSQL GenAI: Bitnine will
contribute its AgensSQL GenAI, which enhances AI-driven analytics
and decision-making processes within the platform.
- Microsoft Azure Stack Hub: Ovation Solutions
Inc., a trusted partner of Microsoft, will lead the integration and
implementation services, ensuring that the technologies are
seamlessly incorporated into Azure Stack Hub and are
market-ready.
Future Engagement The technologies developed through this
collaboration will be available to enterprise clients, with
licensing and service fees set through future negotiations. It is
expected to drive significant advancements in how businesses
leverage graph databases and AI for enhanced data analytics and
operational efficiency.
Updated Disclosure
AGEDB would like to update and clarify the previous press
release issued on August 6,
2024. The joint R+D collaboration agreement was signed
August 21, 2024. The AGEDB graph
database software to be integrated is "AgensGraph Extension." The
project timeline includes a "Final Testing and Proof of Concept
(PoC)" phase.
About AGEDB Technology Ltd. AGEDB Technology Ltd. (TSX-V:
AGET) is a leading provider of advanced graph database solutions,
dedicated to helping organizations unlock the full potential of
their data.
About Ovation Solutions Inc. Ovation Solutions Inc. is a
trusted partner of Microsoft, providing a wide range of data and AI
solutions to enterprises. With deep expertise in Microsoft
technologies, Ovation is committed to delivering integrated
solutions that drive business success.
About Bitnine Co. Ltd. Bitnine Co. Ltd. (357880.KQ)
specializes in graph database technologies and AI-driven analytics,
providing powerful tools that enable organizations to gain deeper
insights from their data.
Neither the TSX Venture Exchange nor its Regulation Services
Provider (as that term is defined in the policies of the TSX
Venture Exchange) accepts responsibility for the adequacy or
accuracy of this news release.
Forward Looking Statements
This news release contains forward-looking statements and
forward-looking information within the meaning of applicable
securities laws. The use of words such as "expect", "anticipate",
"intend", "aim", "estimate", "objective", "ongoing", "may", "will",
"project", "should", "believe", "plans", "intends'' and similar
expressions are intended to identify forward-looking information or
statements. The forward-looking statements and information are
based on expectations and assumptions made by the Company. Although
the Company believes that the expectations and assumptions on which
such forward-looking statements and information are based are
reasonable, undue reliance should not be placed on the
forward-looking statements and information because the Company can
give no assurance that they will prove to be correct.
Forward-looking statements are neither historical facts nor
assurances of future performance. Instead, they are based only on
our current beliefs, expectations and assumptions regarding the
future of our business, future plans and strategies, projections,
anticipated events and trends, the economy and other future
conditions. Because forward-looking statements relate to the
future, they are subject to inherent uncertainties, risks and
changes in circumstances that are difficult to predict and many of
which are outside our control. Our actual results and financial
condition may differ materially from those indicated in the
forward-looking statements. Therefore, you should not rely on any
of these forward-looking statements.
Since forward-looking statements and information address future
events and conditions, by their very nature they involve inherent
risks and uncertainties. Actual results could differ materially
from those currently anticipated due to a number of factors and
risks. Numerous factors could materially affect such
forward-looking information including, changes in economic
conditions, industry trends, or the competitive landscape; rapid
advancements in technology; shifts in customer needs and
preferences; issues related to software development, system
integration, project delays, or failures in delivering high-quality
products can impact business performance; fluctuations in foreign
exchange rates and overall financial market conditions;
competition; intellectual property risks protecting intellectual
property, defending against infringement claims; the ability to
attract, retain, and motivate qualified personnel; availability of
qualified software engineers, software developments, pace of
technological change, impact of artificial intelligence (AI)
programs and software and state of the Company's financial
resources, among others.
Readers are cautioned that the foregoing list of factors is not
exhaustive. The forward-looking statements included in this news
release are expressly qualified by this cautionary statement. The
forward-looking statements and information contained in this news
release are made as of the date hereof and the Company undertakes
no obligation to update publicly or revise any forward-looking
statements or information, whether as a result of new information,
future events or otherwise, unless so required by applicable
securities laws.
View original
content:https://www.prnewswire.com/news-releases/agedb-technology-ltd-cve-aget-announces-strategic-joint-rd-collaboration-with-ovation-solutions-inc-and-bitnine-co-ltd-357880kq-to-enhance-microsoft-azure-stack-hub-302232376.html
SOURCE AGEDB Technology Ltd.
