WANdisco Plc Large multi-year global automotive contract win (0917R)
04 July 2022 - 4:00PM
UK Regulatory
TIDMWAND
RNS Number : 0917R
WANdisco Plc
04 July 2022
4 July 2022
WANdisco plc
("WANdisco" or the "Company")
Large multi-year contract win with a global automotive
supplier
Contract valued at a minimum of $5 million over five years, with
significant potential for expansion
Further strengthens WANdisco's position in key IoT growth
market
WANdisco (LSE: WAND), the data activation platform, has won a
new Internet of Things ("IoT") contract with a large European
automotive components supplier (the "Client'). The Client has
entered into a Commit-to-Consume contract which is valued at a
minimum of $5 million over five years, to replicate over an exabyte
of automobile sensor data to the Amazon Web Services' ('AWS')
cloud. The terms of the contract provide that 50% of the $5 million
will be paid in advance. As it is a Commit-to-Consume contract,
revenue will be recognised as the customer moves its data.
The Client is deploying WANdisco's LiveData Migrator ("LDM") to
support its edge computing platform to replicate sensor data from
automotive components in an on-premise data centre to AWS for use
in multiple analytics platforms.
WANdisco's unique technology was the only solution capable of
moving the sensor data to the cloud within the AWS ecosystem
effectively. Additionally, WANdisco's LDM solution stood out for
the Client as it guarantees minimal business disruption, data
consistency and security during the process. This win represents
another contract in the automotive components IoT space, and
further reaffirms the significant opportunity for WANdisco in this
key growth market.
This Commit-to-Consume contract aligns revenue to the
consumption of services, as is the standard in the cloud, enhancing
the predictability of future revenues for WANdisco. The Client
expects considerable data growth over the lifetime of the contract,
representing a potentially large expansion opportunity for
WANdisco.
WANdisco CEO and Chairman David Richards, commented:
"This contract is the latest proof point of the meaningful
momentum we are seeing in the systemic market shift to IoT.
Businesses are increasingly looking to utilise and make sense of
the copious amounts of data at hand, to drive performance and
intelligent insights, and our solutions are uniquely capable of
moving data seamlessly, at scale to the cloud. This value
proposition is resonating with customers in our key markets.
We have made great progress in aligning our business to the
consumption models of our cloud and analytics partners with our
Commit-to-Consume model offering improved revenue predictability
and greater upsell opportunities for WANdisco. IoT remains a key
focus area of growth for our business, and we see significant
opportunities to both land new customers and expand on our existing
relationships."
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
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 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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