Follow-on agreement with global telco

RNS Number : 6770G

WANdisco Plc

31 March 2022

 

31 March 2022

WANdisco plc

("WANdisco" or the "Company")

Follow-on agreement with global telco

$1.5m commit-to-consume agreement announced 23 March generates first significant follow-on deal for WANdisco: an additional $1.2m commit-to-consume deal following end-customer smart meter data volumes increase

WANdisco (LSE: WAND), the LiveData company , is pleased to announce that it has signed a follow-on agreement worth $1.2m with the top ten global communications company (the "Customer") it announced an initial $1.5m commit-to-consume agreement with on 23 March, 2022. 

The Customer is one of the largest global service suppliers of Internet of Things ('IoT') applications. Less than ten days ago, WANdisco announced that 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).

This 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. Under WANdisco's Commit-to-Consume contract structure, WANdisco anticipated that revenue from this Customer would grow beyond the initial $1.5m agreement, as the Customer moved to migrate increasing amounts of data over time.

The first meaningful increase in the volume of data being migrated has now taken place, driven by an increase in data throughput for one of the Customer's end-customer smart meter operators. The migration of this additional volume equates to an additional $1.2m of commit-to-consume revenue for WANdisco.

David Richards, CEO and Co-founder of WANdisco said:

"To announce such a significant follow-on deal with a global telecom firm, not even ten days after unveiling the first anchor agreement with them, speaks to the true scale of the opportunity WANdisco is targeting. Every company, everywhere has data challenges to overcome - and pioneering approaches by major global firms, like this one, are only the beginning in the expansive IoT landscape.

The strengths of our LiveData Migrator and LiveData Migrator for Azure solutions are what convince customers to partner with us on such huge, critical IoT migrations. Our commit-to-consume revenue model is what allows us to ensure that our revenues follow the steady increase in data volumes being handled by our solutions in a world where IoT use cases are growing just as fast as the data flows that underpin them. And this has led us to doing business worth over $2.6m in Q1 with this Customer."

For further information, please contact:

WANdisco plc		via FTI Consulting
David Richards, Chief Executive Officer and Chairman
Erik Miller, Chief Financial Officer
FTI Consulting		[phone]
Matt Dixon / Kwaku Aning / Tom Blundell
Stifel (Nomad and Joint Broker)		[phone]
Fred Walsh / Richard Short
Panmure Gordon (Joint Broker) Erik Anderson / Alina Vaskina		[phone]

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 LiveData company. 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's products keep 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 http://www.wandisco.com . 

 

END

 

 

AGRJMMLTMTBJBIT