WANdisco Plc Significant contract renewals and expansions (7293Q)
30 June 2022 - 4:00PM
UK Regulatory
TIDMWAND
RNS Number : 7293Q
WANdisco Plc
30 June 2022
30 June 2022
WANdisco plc
("WANdisco" or the "Company")
Significant contract renewals and expansions
Contracts valued at $2.5m in aggregate
Sticky client relationships through mission-critical
products
Potential to grow in largely untapped Chinese market
WANdisco (LSE: WAND), the data activation platform, is pleased
to announce it has secured two contracts with leading information
and communications technology providers (the "Providers") in China.
The contracts are valued at $2.5 million in aggregate with
approximately 50% of the value recognized as revenue immediately
and were secured directly by WANdisco. The contracts represent a
renewal and significant expansions of two existing licence
agreements with key clients.
The Providers chose WANdisco for its unique technology and
because it was the only solution capable of synchronizing client
data across distributed development teams in different geographies.
These contracts signify WANdisco's deepening relationships with its
customers and show how the Company's mission-critical solutions
become an integral part of its customers' development
infrastructure.
These contracts are structured as limited perpetual licences
with annual maintenance for 5 years.
WANdisco CEO and Chairman David Richards, commented:
"China remains a largely untapped market for us where we are
steadily building a presence with our direct sales channel and
reseller relationships. In this case, the clients are both global
companies with a presence in multiple geographies. The expanded
contracts showcase both the strength of our strategic alliances and
the mission-critical nature of our products. China is also one of
the largest markets in the world for IoT, a key strategic avenue
for the Company going forwards.
The major reorganization of our direct sales function and
go-to-market strategy is now clearly bearing fruit with greater
pipeline visibility, lower operating costs and expanded use case
opportunities for our products. We now have a solid platform to
grow in this key strategic market and see a strong pipeline of
potential opportunities."
For further information, please contact:
WANdisco plc via FTI Consulting
David Richards, Chief Executive Officer
and Chairman
Erik Miller, Chief Financial Officer
+44 (0)20 3727
FTI Consulting 1137
Matt Dixon / Kwaku Aning / Tom Blundell
+44 (0)20 7710
Stifel (Nomad and Joint Broker) 7600
Fred Walsh / Richard Short
Panmure Gordon (Joint Broker) +44 (0)20 7886
Erik Anderson / Alina Vaskina 2500
The information contained within this announcement is deemed by
the Company to constitute inside information as stipulated under
the Market Abuse Regulations (EU) No. 596/2014 as it forms part of
UK domestic law by virtue of the European Union (Withdrawal) Act
2018 ('MAR'). Upon the publication of this announcement via
Regulatory Information Service ('RIS'), 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 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 .
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END
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