3 Dec 2019 07:00
3 December 2019
WANdisco plc
("WANdisco" or the "Company")
Renewal and expansion contracts worth c$1m
Contracts with large financial institution and large hi-tech company
WANdisco (LSE: WAND), the live data company for machine learning and AI, has signed contracts valued at around $1 million. The contract renewals are with a large US financial institution in partnership with the Oracle Big Data Appliance, and with a global hi-tech company. Both companies are existing WANdisco customers and the contracts include renewal and expansion of usage for WANdisco's Fusion technology. There remains near term opportunities to further expand the relationship with the financial institution in early 2020.
As cloud data use cases continue to scale at pace for global corporates, customers look to WANdisco's Fusion technology as a key enabler of their expanding requirements in terms of both volume and complexity. This contract is typical of the Company's pipeline of renewals, with commitments with existing customers expected to continue and expand over time.
WANdisco Fusion is the only solution that can enable organisations to seamlessly move large volumes of data with consistent and continuous availability whilst meeting regulatory requirements. WANdisco's patented technology ensures customers are able to leverage the impact of their IT investment to support exponential data growth without growing the IT budget.
David Richards, Chief Executive Officer and Chairman of WANdisco, commented:
"We continue to execute against our objectives and it's pleasing to see customers continue to commit to and expand the use our unique technology in partnership with Blue Chips such as Oracle. There is a real need for data consistency and data availability across the world - our Fusion technology is at the heart of that trend - and the momentum we are seeing with both partners and customers reflects this."
For further information, please contact:
WANdisco plc | via FTI Consulting |
David Richards, Chief Executive Officer and Chairman |
|
Erik Miller, Chief Financial Officer |
|
FTI Consulting | +44 (0)20 3727 1137 |
Matt Dixon / Chris Birt / Kwaku Aning | |
Stifel (Nomad and Joint Broker) | +44 (0)20 7710 7600 |
Fred Walsh / Neil Shah |
|
|
|
Peel Hunt (Joint Broker) | +44 (0)20 7418 8900 |
Edward Knight / Nick Prowting |
|
|
|
WH Ireland Limited (Joint Broker) | +44 (0)20 7220 1666 |
Adam Pollock |
|
About WANdisco
WANdisco is the LiveData company for machine learning and AI. WANdisco solutions enable enterprises to create an environment where data is always available, accurate and protected, creating a strong backbone for their IT infrastructure and a bedrock for running consistent, accurate machine learning applications. With zero downtime and zero data loss, WANdisco Fusion keeps geographically dispersed data at any scale consistent between on-premises and cloud environments allowing businesses to operate seamlessly in a hybrid or multi-cloud environment. WANdisco has over a hundred customers and significant go-to-market partnerships with Microsoft Azure, Amazon Web Services, Google Cloud, Oracle, and others as well as OEM relationships with IBM and Alibaba. For more information on WANdisco, visit www.wandisco.com.