Significant health insurance contract win

RNS Number : 3162K

WANdisco Plc

13 December 2018

 

13 December 2018

WANdisco plc

("WANdisco," the "Company" or the "Group")

Significant health insurance contract win

$3 million subscription contract with potential for expansion

WANdisco (LSE: WAND), the LiveData company, is pleased to announce it has secured its largest ever cloud contract with a major US health insurer (the "Client"). The agreement is valued at approximately $3 million and will see the Client deploy the Company's patented Big Data and Cloud product, WANdisco Fusion ("Fusion").

The contract is for an initial three-year subscription period valued at $3 million. The Client will start utilising Fusion for on-premise and hybrid cloud use cases. This contract leverages WANdisco's strategic co-sell relationship with Microsoft as the Client looks to move data to the Azure cloud. The Client, one of the largest health insurers in the US, has substantial data requirements across their 22,000 employees and 15 million members representing a significant opportunity to grow the subscription over time.

Both hybrid-cloud and cloud migration are LiveData use cases where, in order to take advantage of the significant benefits of cloud, customers must be able to move data without interruption to business operations.

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 our 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:

"I am delighted to announce our largest ever cloud deal. This reflects our continued focus upon predictable recurring revenues. The $3 million contract initially spans three years, but there is significant potential to expand this further to meet their developing data requirements This contract illustrates the significant traction we are gaining in healthcare and other key industries. Our pipeline continues to grow, and we remain confident and excited about our future."

"The customer has vast data streams which need to be consistently and continuously available during migration to cloud, hybrid cloud and multi-cloud. WANdisco Fusion remains the only technology capable of fulfilling this. This is an excellent demonstration of how we continue to enable the migration of critical live data at scale for Microsoft Azure, and other cloud leaders."

This announcement contains inside information for the purposes of Article 7 of Regulation (EU) No 596/2014 ("MAR"). Upon the publication of this announcement, this inside information is now considered to be in the public domain.

For the purposes of MAR and Article 2 of Commission Implementing Regulation (EU) 2016/1055, this announcement is being made on behalf of the Company by David Richards, CEO and Chairman.

For further information please contact:

WANdisco plc David Richards, Chief Executive Officer and Chairman Erik Miller, Chief Financial Officer	via FTI Consulting
FTI Consulting Matt Dixon / Harry Staight / Chris Birt / Kwaku Aning	[phone]
Stifel (Nomad and Joint Broker) Fred Walsh / Neil Shah / Alex Price / Rajpal Padam	[phone]
Peel Hunt (Joint Broker) Edward Knight / Nick Prowting	[phone]
WH Ireland Limited (Joint Broker) Adam Pollock	[phone]

About WANdisco

WANdisco is shaping the future of data infrastructure with its groundbreaking Live Data platform, enabling companies to put all their data to work for the business - all the time, at any scale.

WANdisco makes data always available, always accurate, and always protected, delivering hyperscale economics to support exponential data growth with the same IT budget. With significant OEM relationships with IBM and Dell EMC and go-to-market partnerships with Amazon Web Services, Cisco, Microsoft Azure, Google Cloud, Hewlett Packard Enterprise, Oracle and other industry titans - as well as hundreds of customers among the Global 2000 - WANdisco is igniting a Live Data movement worldwide.

 

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