This paper describes the reconfigurable read-out system for the 82944 RICH-1 channels of the COMPASS experiment (NA58) at CERN. The system is based on 192 identical large front-end boards (BORA board). BORA was designed for acquiring, digitizing, threshold subtracting and transmitting event data. The overall operation of the board is controlled and supervised by a DSP tightly interacting with an FPGA that acts as a parallel co-processor. The DSP allows characterizing each analog channel by locally calculating noise and pedestal. Each BORA communicates with the outside world through two optical fibers and through a dedicated DSP network. One optical fiber is used to receive event triggers, and the other one is used to transmit event data to subsequent processing stages of the acquisition system. The DSP network allows reconfiguring and reprogramming the DSPs and FPGAs as well as acquiring sample events to visualize the overall operation of the system. The whole RICH has eight DSP networks working in parallel. These networks are handled by DOLINA, a PC resident multiprocessor board containing eight DSPs. Each network is formed by 24 BORA DSPs and 1 DOLINA DSP. The read-out system can steadily work up to a trigger rate of 75 kHz with maximum pixel occupancy of 20%, reaching a transmission data rate of 5.13 Gbytes/s.