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Friday, October 4, 2013

Product Launch: Open Source Hazelcast 3 Commodifies In-memory Data Grid ... - PR Web (press release)

San Francisco, CA (PRWEB) September 26, 2013

At the JavaOne Conference, on the back of a $2.5M funding announcement, Hazelcast announces the release of version 3 of the industry’s leading open source in-memory data grid product.

In-Memory Data Grids enable large numbers of computers to pool their memory together. This effectively joins hundreds or even thousands of low cost machines into a single virtual supercomputer with a very large memory pool, with many processors working together. This type of software is ideal for processing big data when there are high performance requirements (real-time instead of batch processing). Hazelcast is the leading open source in-memory data grid, and is available for free download under the Apache 2 software license.

This free download enables any network of commodity computing devices to be harnessed together to achieve extremely high price/performance for tasks requiring big memory or symmetric multiprocessing. Experienced Java developers can install this software in minutes.

According to Gartner, the in-memory data grid market is growing at an estimated 40% CAGR (compounded annual growth rate), and will be a $1B dollar market by 2016. Gartner named Hazelcast as a “Cool Vendor” in 2012.

Hazelcast 3.0 represents the largest change to Hazelcast since it was created in 2008. This effort involved rewriting 70-80% of the code in the product.

“Hazelcast represents a 10x improvement in design, a 10x better quality foundation that will drive the next 2-3 years of product development,” said Talip Ozturk, CEO of Hazelcast. “This will be the platform that will enable Hazelcast to accelerate development of the most powerful in-memory grid in the market.”

Previous versions of hazelcast have achieved significant new growth milestones including 70,000 downloads per month. The speed at which new hazelcast instances come online is now faster than one per second, worldwide. Over 4000 organizations use Hazelcast including some of the world’s largest banks, telecommunications companies and the world’s largest technology company.

Technical features of Hazelcast 3 include:

“Customers increasingly see Hazelcast as a way to replace Oracle Coherence,” said Rod Johnson, Board member of Hazelcast. “Even customers who have an unlimited all-you-can-eat license for Coherence are deploying Hazelcast and paying for support, so it's not just about the price.”

Hazelcast 3 can be downloaded here under the Apache 2 license.

About Hazelcast
Hazelcast (http://www.hazelcast.com) is the provider of the leading open source in-memory grid product. Hazelcast is a free open source download under the Apache license that any developer can include in minutes to enable them to build elegantly simple mission-critical, transactional, and terascale in-memory applications. The company provides commercially licensed Enterprise editions, Hazelcast Management Console and professional open source training, development support and deployment support. The company is privately held and headquartered in Palo Alto, California.



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