WANdisco Plc WANdisco's record agreement with global telco (3698Q)
June 28 2022 - 1:00AM
UK Regulatory
TIDMWAND
RNS Number : 3698Q
WANdisco Plc
28 June 2022
28 June 2022
WANdisco plc
("WANdisco" or the "Company")
Record follow-on agreement with global telco
$11.6m agreement is third successive deal with the Customer in
three months
Commit-to-Consume contract structure is driving significant
expansion opportunities
Potential to further extend the use case across architectures
and geographies
WANdisco (LSE: WAND), the data activation platform , is pleased
to announce that it has signed its largest ever contract with a
value of $11.6m with a top ten global communications company (the
"Customer"). The terms of the contract provide that 50% of the
$11.6M will be paid in advance. As it is a Commit-to-Consume
contract, revenue will be recognised as the customer moves its
data.
This is the third consecutive deal with the Customer, after the
initial Commit-to-Consume agreement worth $1.5m, signed on 23 March
2022 and the follow-on order for $1.2m announced on 31 March 2022.
The cumulative total from this one Customer for WANdisco is $14.3m
and demonstrates the scale opportunity of the Commit-to-Consume
model.
The Customer is one of the world's largest suppliers of Internet
of Things ('IoT') applications. The Customer will use WANdisco's
LiveData Migrator ("LDM") and LiveData Migrator for Azure ("LDMA")
products to migrate the smart meter data it collects from an
on-premise Hadoop cluster to multiple cloud providers (Azure and
AWS).
The initial opportunity covered the migration of 8 petabytes of
data from Hadoop to the cloud, with the potential to extend the use
case across architectures and geographies. WANdisco's
Commit-to-Consume contract structure not only drives greater
adoption of the Company's solutions in future periods but also
enables significant expansion opportunities with existing customers
to migrate increasing amounts of data over time, driving revenue
growth.
This second follow-on order was driven by the Customer's need to
expand its geographic footprint for its smart meter data analytics
project, which has the potential to grow further as its
requirements scale.
David Richards, CEO and Co-founder of WANdisco said:
"This $11.6m order is the third successive agreement we have
signed with this customer and represents our largest ever contract
to date. We remain incredibly excited about the opportunity in IoT
to both expand on these sticky customer relationships and support
new customers facing data challenges.
The general availability of our product and its unique
capability in moving data seamlessly, at scale to the cloud, gives
us confidence that we will win more critical IoT migration
contracts and take market share."
For further information, please contact:
WANdisco plc via FTI Consulting
David Richards, Chief Executive Officer
and Chairman
Erik Miller, Chief Financial Officer
+44 (0)20 3727
FTI Consulting 1137
Matt Dixon / Kwaku Aning / Tom Blundell
+44 (0)20 7710
Stifel (Nomad and Joint Broker) 7600
Fred Walsh / Richard Short
Panmure Gordon (Joint Broker) +44 (0)20 7886
Erik Anderson / Alina Vaskina 2500
This announcement contains inside information as defined in
Article 7 of the Market Abuse Regulation No. 596/2014 ("MAR") as
retained as part of UK law by virtue of the European Union
(Withdrawal) Act 2018 as amended. Market Soundings, as defined in
MAR, were taken in respect of the proposed Placing with the result
that certain persons became aware of this inside information, as
permitted by MAR. Upon the publication of this announcement, this
inside information is now considered to be in the public domain.
The person responsible for arranging for the release of this
announcement on behalf of WANdisco is David Richards, Chief
Executive Officer and Chairman of WANdisco.
About WANdisco
WANdisco is the first and only data activation platform for
accelerating digital transformation at scale. WANdisco makes
infinite data actionable across clouds and enterprises in real
time. WANdisco customers unleash the business value of the cloud
with zero downtime, data loss, or disruption to fuel AI and machine
learning, create new services, and transform businesses. For more
information about WANdisco, visit www.wandisco.com .
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END
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