4 Apr 2023 07:00
4 April 2023
WANdisco plc
("WANdisco" or the "Company")
Contract Renewals
BMW Group and Maxim Integrated agree license renewals for WANdisco solutions
WANdisco (LSE: WAND), the data activation platform, is pleased to confirm two contract renewals secured in recent days with major global organizations. Both renewals cover usage of WANdisco SVN MultiSite: the Company's source code management software solution that delivers active-active replication and LAN-speed performance over Wide Area Networks for global collaboration.
Contract Wins
First, BMW Group has agreed to a continued multi-year license engagement with WANdisco and accompanying support service. BMW Group has been a WANdisco customer since 2016. WANdisco technology is a critical part of BMW's software engineering infrastructure, relied upon by its globally distributed development teams. The agreement covers usage of WANdisco source code management tools Subversion MultiSite Plus and Git MultiSite.
In addition, Maxim Integrated, a subsidiary of Analog Devices, which designs, manufactures, and sells analogue and mixed-signal integrated circuits for the automotive, industrial, communications, consumer, and computing markets, has agreed a five-year subscription license renewal with WANdisco. The business has been a customer since 2018 and has relied on WANdisco to ensure its global operations remain uninterrupted, with no downtime, even during routine maintenance. Maxim Integrated has increased its usage of SVN MultiSite by over 50% since 2018 and views WANdisco's solutions as mission critical in enabling the business' global distributed engineering and development teams to create and release products.
Financial Treatment
Taken together, these two contract renewals are expected to deliver USD 1.5 million in revenue to WANdisco over the next five years. It is anticipated that approximately USD 1.0 million of this revenue will be recognized in current financial year FY 2023. A further approximately USD 0.2 million will be recognized in FY 2024, with approximately USD 0.1 million recognized in each of the remaining three financial year periods.
For further information, please contact:
WANdisco plc | via FTI Consulting |
FTI Consulting |
+44 (0)20 3727 1137 |
Matt Dixon / Kwaku Aning / Tom Blundell |
|
Stifel (Nomad and Joint Broker) |
+44 (0)20 7710 7600 |
Fred Walsh / Richard Short / Tom Marsh |
|
Liberum (Joint Broker)
Max Jones / Kate Bannatyne |
+44 (0)20 3100 2000 |
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. 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 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