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The firm announced a new agreement with Quaker Chemical Corporation of Pennsylvania that will see the US company roll out Peribit's products in Quaker installations in the Netherlands, Spain, Detroit, Michigan and the company's headquarters in Conshohocken, Pennsylvania. Installation, which will be led by Peribit's Dublin office, will continue in South America and Asia into 2003.
Founded in May 2000, Peribit Networks uses techniques developed in the study of DNA to enhance the performance and capacity of IT networks. The company's Molecular Sequence Reduction (MSR) technology employs patent-pending algorithms that identify and eliminate previously undetected repetitions in data traffic flowing across wide area networks (WANs).
Using these technologies, embodied in a hardware and software product called SR-50, Peribit claims to be able to increase network capacity by up to ten times, over WAN links at speeds beyond T3, by identifying and eliminating as much as 90 percent of network traffic from a WAN data stream.
In the case of Quaker, Peribit Networks EMEA President Shane Buckley said that the addition of SR-50 to Quaker's network hubs will offer an average increase in effective bandwidth of up to three times during peak hours, and an increase of 10 times during off peak periods.
Buckley explained that Quaker had plans to include a JD Edwards Enterprise resource planning application on its network, which would create a significant drain on bandwidth across the company's WAN. But with the Peribit product in place, that single application will receive a performance boost of up to four times, Buckley claimed.
Financial terms of the deal were not available, but each SR-50 has been pegged at between USD15,000 and USD20,000.
"Quaker is a global enterprise and our success depends on sharing information. Our challenge is how to get bandwidth at a price we can afford," said Irving "Bubba" Tyler, vice president and chief information officer at Quaker Chemical Corporation. "Up to now our only option was to add more bandwidth."
Buckley, who previously worked at Conduit Software and 3Com, said that a second major deal was in the pipeline. Peribit now employs four in Dublin offices and has just opened a new office in Germany with other European offices expected to open in the coming months. After closing over USD20 million in new venture capital earlier this year, the California-based firm has brought in around USD31 million in funding since it was launched.
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