WANdisco Plc WANdisco's record agreement with global telco (3698Q)

TIDMWAND

RNS Number : 3698Q

WANdisco Plc

28 June 2022

28 June 2022

WANdisco plc

("WANdisco" or the "Company")

Record follow-on agreement with global telco

$11.6m agreement is third successive deal with the Customer in three months

Commit-to-Consume contract structure is driving significant expansion opportunities

Potential to further extend the use case across architectures and geographies

WANdisco (LSE: WAND), the data activation platform , is pleased to announce that it has signed its largest ever contract with a value of $11.6m with a top ten global communications company (the "Customer"). The terms of the contract provide that 50% of the $11.6M will be paid in advance. As it is a Commit-to-Consume contract, revenue will be recognised as the customer moves its data.

This is the third consecutive deal with the Customer, after the initial Commit-to-Consume agreement worth $1.5m, signed on 23 March 2022 and the follow-on order for $1.2m announced on 31 March 2022. The cumulative total from this one Customer for WANdisco is $14.3m and demonstrates the scale opportunity of the Commit-to-Consume model.

The Customer is one of the world's largest suppliers of Internet of Things ('IoT') applications. 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).

The 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. WANdisco's Commit-to-Consume contract structure not only drives greater adoption of the Company's solutions in future periods but also enables significant expansion opportunities with existing customers to migrate increasing amounts of data over time, driving revenue growth.

This second follow-on order was driven by the Customer's need to expand its geographic footprint for its smart meter data analytics project, which has the potential to grow further as its requirements scale.

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

"This $11.6m order is the third successive agreement we have signed with this customer and represents our largest ever contract to date. We remain incredibly excited about the opportunity in IoT to both expand on these sticky customer relationships and support new customers facing data challenges.

The general availability of our product and its unique capability in moving data seamlessly, at scale to the cloud, gives us confidence that we will win more critical IoT migration contracts and take market share."

For further information, please contact:

 
 WANdisco plc                                  via FTI Consulting 
 David Richards, Chief Executive Officer 
  and Chairman 
 Erik Miller, Chief Financial Officer 
 
                                               [phone] 
 FTI Consulting                                 1137 
 Matt Dixon / Kwaku Aning / Tom Blundell 
 
                                               [phone] 
 Stifel (Nomad and Joint Broker)                7600 
 Fred Walsh / Richard Short 
 
 Panmure Gordon (Joint Broker)                 [phone] 
  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 first and only 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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June 28, 2022 02:00 ET (06:00 GMT)