WANdisco Plc AGM Statement (0169G)
24 May 2017 - 4:00PM
UK Regulatory
TIDMWAND
RNS Number : 0169G
WANdisco Plc
24 May 2017
24 May 2017
WANdisco plc
("WANdisco" or the "Company")
AGM Statement
WANdisco (LSE: WAND), the world leader in Active Data
Replication(TM), will be holding its AGM at 10:00am today.
At the meeting, David Richards, Chief Executive Officer and
Interim Chairman of WANdisco, will make the following
statement:
"2016 was a year of substantial progress for the Company with
our WANdisco Fusion product now generating significant sales
momentum. WANdisco Fusion is the only solution available in the
world that enables the replication of continuously changing data
with guaranteed data consistency and no down-time, making us
uniquely placed to capitalise on the increasing demand from
enterprises to transfer data to the cloud with no business
disruption.
"Alongside our strong sales traction, we have realigned our cost
base, which we now believe is at an appropriate level to deliver a
positive EBITDA. In April of this year we reported that WANdisco
delivered a cashflow neutral performance in Q1 2017, ending the
quarter with $7.6 million of cash. This is a momentous achievement
for our business and is a clear indication of the tremendous
progress our team has made over the last 12 months.
"I am also pleased to report WANdisco has made a strong start to
2017. We continue to develop a growing new business pipeline, which
was highlighted by our sales team securing the Company's largest
contract to date in Q1, a $4.1 million contract win with a major
financial services multinational. Our key strategic partnerships,
in particular our OEM with IBM, continue to remain central to our
progress and we look forward to further developing our channel
partnerships to accelerate the deployment of WANdisco
globally."
For further information, please contact:
WANdisco plc via Vigo Communications
David Richards, Chief Executive
Officer and Interim Chairman
Erik Miller, Chief Financial
Officer
+44 (0)207 830
Vigo Communications 9700
Jeremy Garcia / Fiona Henson
/ Antonia Pollock
www.vigocomms.com
+44 (0)207 710
Stifel (Joint Broker and Nomad) 7600
Fred Walsh / Neil Shah / Ben
Maddison / Rajpal Padam
UBS (Joint Broker) +44 (0)207 567
Rahul Luthra / Sandip Dhillon 8000
About WANdisco
WANdisco is the world leader in Active Data Replication(TM). Its
patented WANdisco Fusion technology enables the replication of
continuously changing data to the cloud and on-premises data
centers with guaranteed consistency, no downtime and no business
disruption. It also allows distributed development teams to
collaborate as if they are all working in one location. WANdisco
has an OEM with IBM as well as partnerships with Amazon Web
Services, Cisco, Google Cloud, Hewlett Packard Enterprise,
Microsoft Azure, and Oracle to resell its patented technology.
WANdisco also works directly with Fortune 1000 companies around the
world to ensure their data gives them the real insight they
need.
For additional information, please visit www.wandisco.com.
This information is provided by RNS
The company news service from the London Stock Exchange
END
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