SAN DIEGO, Calif. – May 5, 2004 – Parity Computing, Inc, a leading unstructured data management company, announced today that Elsevier has signed a multi-year licensing agreement for Parity’s text processing software. Parity’s software will provide intelligent automation for parts of the production of Elsevier’s databases and publications. In addition to the multi-year licensing deal, Parity is also providing custom software development for new applications at Elsevier.
“We selected Parity Computing on the strength of their software and experience,” said IJsbrand Jan Aalbersberg, Publishing Technology Director for Elsevier. “Parity has developed an innovative product for text processing. This software selection was an important strategic decision for Elsevier. In our technology evaluation, Parity’s software was able to meet our highest standards for accuracy and scalability.”
Parity Computing’s text processing software extracts and analyzes structured networks of inter-document links from text-based sources. The text processing software is a central component of Parity’s platform for building structured knowledge networks from textual data sources. Parity’s systems enable new types of research in large databases, and Parity has particularly been able to benefit scientific and publishing clients in developing powerful digital libraries.
“Today’s announcement is the result of several years refining the accuracy and scalability of our text processing software for a broad range of applications with our clients, and we are excited to see our software applied on a large scale at Elsevier,” said Mohan Paturi, founder of Parity Computing. “Parity’s technology allows automatic development of novel data products starting from comprehensive data holdings like those at Elsevier,” added Chris Rosin, CEO of Parity Computing. “We are happy to see our text processing software play a significant role in strengthening research tools for Elsevier’s users.”
Elsevier is a world-leading publisher of scientific, technical and medical information products and services. Working in partnership within the global science and health communities, the company publishes more than 1,800 journals and 2,200 new books per year, in addition to offering a suite of innovative electronic products, such as ScienceDirect (www.sciencedirect.com) and MD Consult (http://www.mdconsult.com/) bibliographic databases, online reference works and subject specific portals. Elsevier (www.elsevier.com) is a global company headquartered in Amsterdam, The Netherlands and has offices worldwide. The company is part of Reed Elsevier Group plc (www.reedelsevier.com), a world-leading publisher and information provider. Operating in the science and medical, legal, education and business-to-business sectors, Reed Elsevier provides high-quality and flexible information solutions to users, with increasing emphasis on the Internet as a means of delivery. Reed Elsevier’s ticker symbols are REN (Euronext Amsterdam), REL (London Stock Exchange), RUK and ENL (New York Stock Exchange).
Parity Computing, Inc. (www.paritycomputing.com) is a leading provider of unstructured data management and knowledge discovery solutions, enabling businesses to recognize the value inherent in their data. Parity’s technology platform transforms disparate data into a knowledge network of actionable profiles and linked relationships, and provides optimized application-specific interfaces for querying and navigation. The assembly of these knowledge networks allows customers to gain rapid and valuable insights into mission critical business intelligence and improves organizational research productivity. Parity’s technology and in-depth expertise provide significant competitive advantages to customers in the domains of science and technology research (STM publishing, digital libraries, biotech/pharmaceutical), and business research (intellectual property, recruiting, institutional knowledge management).