February 02, 2007
Search, Data and Information Extraction, and Natural Language Processing Tools for Unique Service Offering.
BROOKLYN, NY – February 01, 2007 – The Center for Advanced Technology in Telecommunications and Distributed Information Systems (CATT) at Polytechnic University today announced that it had entered into a twelve (12) month Master Relationship Agreement with JPM Global, Inc. (the “Company”) to provide engineering services and research in the areas of search engines, data and information extraction, and natural language processing. These technologies will be used in support of the Company’s BarterQuest Web site to uniquely facilitate the cashless exchange of goods and services between individual consumers.
“CATT is very excited about the opportunity to provide research and engineering services to JPM Global in support of their product evolution and service offerings in their market segment,” said Dr. Shivendra Panwar, Director, CATT.
Dr. Paul Bocheck, the President of the Company, stated that he “greatly anticipates JPM Global’s relationship with CATT. Polytechnic University has earned a reputation over the past 150 years as one of New York’s leading research centers and engineering schools. CATT’s state-of-the-art facilities and teams of experts understand how to turn technological breakthroughs into commercially promising products and services. Our partnership with CATT should accelerate the development of software that will differentiate our site from other trading sites that are no more than electronic bulletin boards. The current market for barter between individuals is huge but highly fragmented and inefficient. By applying proprietary technologies, BarterQuest will allow this market to realize its true potential.
Dr. Torsten Suel, Associate Professor of Computer and Information Science at Polytechnic University, will be the Principal Technical Investigator for CATT throughout this project; his main research areas are web search technology, algorithms, databases, distributed computation and peer-to-peer networks.
JPM Global, Inc is a Delaware corporation that was formed in 2006 to develop, own, and operate BarterQuest. The Company is principally owned by its management team which, other than Dr. Bocheck, consists of Michael Satz, CEO, and Bianca Han, Executive Vice President.
Since its inception in 1982, CATT’s mission has been to stimulate the growth of New York’s information technology business. As a New York State Office of Science, Technology, and Academic Research (NYSTAR) designated Center of Advanced Technology, our research focuses on key areas critical to today’s businesses: networking, networking applications, wireless communications, multimedia, and cyber security. (http://catt.poly.edu)
NYSTAR’s innovative programs and initiatives provide the critical continuum to translate cutting edge research into economic development. A central element of NYSTAR’s mission is the recognition that New York’s world-class public and private universities and academic centers are powerful economic development engines that can create high-tech jobs and opportunity in New York. By creating new technologies and new innovations, New York looks to build a stronger economic future. (http://www.nystar.state.ny.us)
Except for the historical information contained herein, this news release may contain forward-looking statements that are subject to risks and uncertainties.