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Peribit Europe inks global deal
Monday, September 16 2002
by Matthew Clark


US company Peribit Networks announced the first major deal for its products
through its newly created European headquarters in Dublin. 

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.