U.S. Government Awards Paracel Inc. a Multimillion-Dollar Contract for Advanced Text-Searching Products.
Hardware and Software Products Based on Paracel's
FDF Technology Will Be Delivered Over the Next 12 Months
Paracel Inc., a private company, Monday announced a contract worth several million dollars from the U.S. government to deliver Fast Data Finders (FDF) and associated software for high-volume text filtering and dissemination.
The products ordered will be delivered over the next 12 months.
``This contract represents significant growth in the demand for Paracel's data-filtering products,'' said Kwang-I Yu, chief executive officer of Paracel. ``The government's need to filter and sort high volumes of diverse, multilingual text data is rapidly becoming a requirement for the Internet and corporate intranet markets.''
Yu added: ``We regard this award as a confirmation of Paracel's unique ability to meet the most demanding text-filtering and dissemination requirements in the world.''
The Fast Data Finder is a patented computational device that analyzes massive quantities of text and other data types. FDF technology, allowing a user to execute complex topic-oriented searches on large text databases, offers a significant price/ performance advantage to Internet/intranet developers for text- filtering and dissemination applications.
FDF products are the backbone of commercial on-line information services such as NewsCast Today from WavePhore Inc. and ZD Net Personal News from Ziff-Davis Inc.
Paracel, founded in 1992, develops and markets high-performance text and genomic data-analysis systems for the pharmaceutical, biotechnology, information-systems and government markets. Additional information on Paracel is available via the Internet at www.paracel.com . Paracel is a privately held company with headquarters located in Pasadena. -0-
NOTE TO EDITORS: Fast Data Finder and FDF are registered trademarks of TRW Inc. licensed exclusively to Paracel Inc.
CONTACT: Paracel Inc., Pasadena
Forrest Fleming, 818/666-6684