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NFRX InferText
http://www.inferx.com/infertext.htm
BENEFITS
Avoids the movement of large amounts of documents
Bridges the gap between traditionally isolated data and text analytics solutions
Addresses issues of data ownership, privacy, and security, as data stays where it is
Spots opportunities and risks as they occur for immediate action
Provides encrypted analysis at reduced cost
InferText™ brings all the technological advantages of InferAgent, plus the ability to analyze unstructured data, allowing the user to extract key concepts from documents, reports, e-mails and other texts.
At the core of the InferText product is the Concept Extractor. This subsystem extracts key concepts from unstructured data sources that are of significance to the predictive analytics task at hand. The distributed data analytics engine then finds the conceptual links between various structured and unstructured data sources residing at geographically dispersed locations. This task oriented approach to concept extraction ensures that the analytics process is not overwhelmed by the presence of an unnecessarily large number of features and addresses the issues of large dimensionality and data over fitting, often associated with text mining.
InferText is a standalone component of the InferX Distributed Data Analytics Platform (D2AP). D2AP offers a new generation of technologies for a network-centric approach to pattern discovery from dispersed data. It is the key to unlocking the information stored in multiple, disparate and remote databases to generate actionable intelligence.
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InferX 2.0 (Merger of InferX and The Irus Group)
We announced our intent to merge with The Irus Group to optimize the business and build shareholder value. Since August 2008 we have been working with The Irus Group under an MOU which laid the foundation of working with them as a partner and then specific teaming opportunities in Healthcare and Government sector. The significant synergies and close cooperation between InferX and The Irus Group led to the decision to merge. Irus Group is a top business intelligence and corporate performance management solution provider that works with several major financial services firms and government organizations to turn their data into information and their information into knowledge, which leads to better business decisions. This business objective is similar to the focus of InferX. The Irus Group also has a long history of providing planning and budgeting solutions to financial management at some of the world's largest commercial and government customers which will help InferX 2.0 capitalize on cross selling opportunities for our product suite. The Irus Group's 2008 revenues were approximately $6.0 million, and it is profitable. To comply with SEC rules, its financial statements are being audited by InferX's auditors.
We believe that the clients of the impacted businesses, as well as InferX shareholders, will be in a better position to optimize value as a result of this merger. We will continue to manage our businesses with this principle in mind, and we are focused on delivering results that support InferX 2.0. We made a series of structural changes as we entered in the New Year: integrating our organization structure, bringing new leaders, enhancing capital management, and better aligning our incentive structure to promote sales of products and solutions. We are at a crossroads and making important decisions in 2009 about the company we aspire to be. Altering the mix of businesses that compose InferX was among the most transformational actions taken until now.
As part of InferX 2.0, we adopted a principle that we would only participate in businesses where we either have - or could project - a clear path to a leadership. As a merged entity, we believe we possess those characteristics in our financial businesses; we determined that operating in the Government Sector, Healthcare Sector and Financial Services Sector would allow us to maximize shareholder value. Although our first priority is the integration of The Irus Group, we will continue to consider opportunities to expand our scale and differentiation through acquisition.
Innovation is also a driving force of InferX 2.0. We are grateful to our technical management team and believe that their creativity, innovation and tenacity will produce even greater results in the future. It is our people who continue to make the difference.
As management, we know that our ultimate responsibility is to provide value to clients and strong returns for shareholders. Regardless of near-term share price performance, we are confident that we have taken the actions that should provide attractive returns for our shareholders for many years.
The New InferX
Inside the company we refer to ourselves as "The New InferX" to reflect the many actions we are taking in 2009 and the vast opportunities we believe await us. We have lot of work ahead of us and once the complete integration has taken place and reporting is done for Q2 2009, we will be able to share forward looking pro-forma projections of The New InferX with our shareholders. We have a low capital business model which we believe will deliver attractive earnings, operating margins and cash flow.
We enter 2009 with what we believe will make us the leading provider of next generation business intelligence and predictive analytics solutions for the broad financial services industry. We offer a variety of leading solutions in healthcare fraud, financial services risk management and complex intelligence analysis in the government sector. Our goal is to not only deliver the products that we have today, but to increase integration and innovation so that we can provide even more client value in the future. That is the essence of The New InferX.
We envision The New InferX playing a larger role with increased focus on the end-users of our technology. We are increasing our thought leadership and product innovation to ensure that InferX clients are the beneficiaries of the best technology solutions available.
We believe that our shareholders will benefit from a strong focus on profitable growth during 2009. We are developing a new business model that focuses on recurring revenue and that is based on achieving profitability. We expect to extend our broad operating competencies across an enterprise to enhance the results from licensing our software suite and to generate cash flow that will be managed with the goal of optimizing shareholder value.
B.K.Gogia
Chairman of the Board
