LAKE FOREST, Ill.--(BUSINESS WIRE)--Acquired Sales Corp. (OTCQB: AQSP) announced that its wholly-owned subsidiary, Cogility Software Corporation (www.cogility.com), developer of sophisticated military intelligence software for complex data fusion, mining, and analysis, has been awarded a contract valued at $500,000, as continuation funding for the development of the Joint IED Analysis Tool (JIST) for the U.S. Army, funded by the Department of Defense. Cogility also expects a multi-year continuation of project funding for this effort.
Improvised explosive devices (IEDs) are the most frequent cause of US casualties in Afghanistan. Military analysts believe that this new approach to IED analysis, developed by Cogility, will save American lives.
The JIST system, enabled by the Cogility Studio™ suite, an integrated software development environment for Model Driven Engineering, overlays disparate intelligence and operational IED related data sources -- both structured and unstructured data. Leveraging Cogility's patent pending Template Event Processing Language (TEPL) and Complex Event Processing (CEP), the JIST system automatically performs hundreds and thousands of simultaneous queries, and organizes and pushes actionable intelligence to our analysts and warfighters. By automatically providing critical and actionable intelligence, our analysts spend less time searching and more time analyzing and taking proactive actions against the adversaries.
The unique JIST solution provides an analytical framework for solving a number of Intelligence requirements and is currently being studied by several U.S. Government agencies.
“Working with the US Army to find new ways of understanding and defeating IEDs and saving American lives is our most critically important task,” explained Cogility CEO Dan Terry. “We are honored to bring this software tool to the tip of the spear in the service of our warfighters. Through my nine years of involvement and three years on the ground in Iraq and Afghanistan, I feel that JIST and Cogility’s broader system engineering capabilities can be a game changer in the Global War on Terrorism.”
"We are honored to support the men and women of the Armed Services in their mission to identify and defeat IEDs and their supporting network," said Matthew Ghourdjian, Cogility Founder and Chief Technology Officer. "I believe that our innovative TEPL, CEP and predictive analytics technology has a wide range of applicability to the big data problems faced by various Defense and Homeland Security intelligence groups."
About Cogility – Headquartered in Providence, Rhode Island, Cogility has extensive experience in business consulting, system engineering, and the design and deployment of complex applications. Cogility Studio™ is an advanced, end-to-end capability for the design, deployment, execution, testing, monitoring and maintenance of complex, enterprise-wide composite applications. Cogility Studio™ is used to develop JIST, and has recently been used to develop massive data analytics for both legal and financial industries.
Cautionary Statements Regarding Forward-Looking Information - This release may contain forward-looking statements, including statements about Cogility Software Corporation's operations and prospects. These forward-looking statements involve risks and uncertainties. Factors that may cause actual results or earnings to differ materially from these forward-looking statements include those discussed in filings that Acquired Sales Corp. makes with the U.S. Securities and Exchange Commission, including the risk factors described in the Form 10-K which was filed with the SEC on March 30, 2012. You are cautioned not to place undue reliance on these statements, which speak only as of the date of this release. We undertake no obligation to update these forward-looking statements to reflect events or circumstances after the date of this release.