WANdisco secures two contracts with information and communications technology providers in China
The contracts are valued at $2.5 million in aggregate with approximately 50% of the value recognised 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.
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Hide AdWANdisco said in a statement: "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.
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 reorganisation 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."