Formula Systems (FORTY)

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GigaSpaces Recognized by Sun Microsystems for Extreme Innovation in Java Technology with Duke's Choice Award at JavaOne

29 June 2005, 09:00am ET

Award Winning Enterprise Application Grid (EAG) Advances Java Spaces Service For Developers

BOOTH 415 at JavaOne

SAN FRANCISCO, California, June 29 /PRNewswire/ -- GigaSpaces Technologies Inc., a fast-growing provider of innovative, distributed infrastructure solutions for transaction intensive, business- critical applications, announced that the company's Enterprise Application Grid (EAG) is a winner of the prestigious Sun Microsystems, Inc. Duke's Choice Award. The award was presented by Sun chairman and chief executive officer, Scott McNealy following his keynote address at the JavaOne(TM) Worldwide Developer Conference today. The Duke's Choice Awards are granted to the best and most innovative technology-based applications and services around the world using the Java(TM) platform.

"Every year now at JavaOne, we announce to the world the finalists of the Duke's Choice Awards - the 10 most creative of Java developers," said Java technology creator, James Gosling, vice president, Sun Fellow and CTO of Sun's Java developer products group, Sun Microsystems, Inc. "It's our way of recognizing the most innovative and dedicated Java developers for their exceptional work. But it's also a way of telling those who just now start exploring with Java that there's a world of opportunity out there for them to discover."

Mark Hodapp, director of the Jini technology program at Sun, added, "This award to GigaSpaces is well-deserved, and acknowledges the tireless commitment that GigaSpaces has put into advancing the Jini technology, and especially the JavaSpaces service, for the benefit of developers everywhere. GigaSpaces' contributions in terms of community and market development are equally significant, and are also recognized."

GigaSpaces is showcasing its award-winning Enterprise Application Grid (EAG) at the JavaOne conference this week. The EAG provides high throughput, low-latency transaction processing applications with a Virtual Application Server, which delivers all the necessary distributed application services, such as distributed caching, parallel processing and a messaging bus. These capabilities enable enterprises in the financial, telecom and transportation industries to rapidly develop and deploy distributed applications over low- cost infrastructure.

Yaron Benvenisti, GigaSpaces CEO, commented, "We are very pleased to receive this high honor and acknowledgement of our technological achievements by Sun Microsystems. GigaSpaces strives to provide our customers with advanced technology solutions that address their most pressing needs. The Duke's Choice Award is validation by a highly respected industry leader that our customers are indeed investing in a solution with an outstanding level of technological excellence."

About GigaSpaces

GigaSpaces is a fast-growing provider of innovative grid-based solutions that solve the performance, reliability and scalability problems of transaction-intensive, business critical applications. Among the company's customers are AIG, Nortel Networks, FXAll and Hutchison 3G, as well as other world-leading organizations in the financial, telecom and transportation industries. GigaSpaces was founded in 2000 and has offices in New York, London and Israel. It is part of the Formula Group (NASDAQ:FORTY), Israel's largest publicly held IT company. For more information, please visit http://www.gigaspaces.com .

Sun, Sun Microsystems, Java, and JavaOne are trademarks or registered trademarks of Sun Microsystems, Inc. in the United States and other countries. All other trademarks and registered trademarks mentioned herein are the property of their respective owners.

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