WANdisco signs $1m contract extension

Sheffield-based WANdisco said the customer is a leading global provider of information and communications technology (ICT) infrastructure and smart devices.

The contract will extend the use of WANdisco’s Fusion technology across the client’s enterprise. WANdisco believes there is further room for growth with this customer as the business continues to grow at speed and prioritise data.

WANdisco's chief executive and chairman David Richards said: “China is a growth market for WANdisco as data use in the region continues toexpand at pace.

"Our blue-chip customer base is seeing real value from our software and we are proud to partner with these leading companies across the globe to enable the next generation of cloud technology.”

He said that WANdisco Fusion is the only solution that can enable organisations to seamlessly move large volumes of data with consistent and continuous availability whilst meeting regulatory requirements.

He added that WANdisco's patented technology ensures customers are able to leverage the impact of their IT investment to support exponential data growth without growing the IT budget.

The deal comes just a week after WANdisco signed two contracts valued at around $1m (£760,000).

The contract renewals were with a large US financial institution in partnership with the Oracle Big Data Appliance, and also with a global hi-tech company.

Both companies were existing WANdisco customers and the contracts include renewal and expansion of usage for WANdisco's Fusion technology.

The firm added that there are opportunities to expand the relationship with the American financial institution in early 2020.

WANdisco said that as cloud data use increases at pace among global corporates, customers are looking to WANdisco's Fusion technology as a key enabler of their expanding requirements in terms of both volume and complexity.

It said this contract is typical of the company's pipeline of renewals, with commitments with existing customers expected to continue and expand over time.

Last month WANdisco raised nearly £13m from a share issue to support its relationships with cloud partners as it announced a growing sales pipeline.

The firm said it has continued to win contracts across a variety of end-markets and partners, including a recently announced contract with Micro-D valued at £2.3m over three years.

The group announced the subscription of 2,998,413 new ordinary shares of 10p each by existing shareholders at a price of 425p per share, which was a premium of 23 per cent on the closing share price on November 22.

Subscribers have undertaken not to sell their new shares for at least a year.