WANdisco Plc Significant customer win and Q1 update (0568D)
April 24 2017 - 2:00AM
UK Regulatory
TIDMWAND
RNS Number : 0568D
WANdisco Plc
24 April 2017
24 April 2017
WANdisco plc
("WANdisco" or the "Company")
Significant customer win and Q1 update
- WANdisco secures record $4.1 million contract with major financial institution
- Delivered cashflow neutral performance in Q1 2017
WANdisco (LSE: WAND), the world leader in Active Data
Replication(TM), announces its largest ever contract with a major
financial services multinational (the "Client"). The agreement was
signed in Q1 2017, is valued at approximately $4.1 million and will
see the Client deploy the Company's patented Big Data and Cloud
product, WANdisco Fusion ("Fusion"), on a volume limited, perpetual
license.
Fusion was selected after an extensive period of testing by the
Client and was deemed to be the only enterprise-grade solution able
to support critical Cloud and Big Data applications. Central to
selecting WANdisco was Fusion's capability to enable the Client to
move active, critical data seamlessly between both primary and
disaster recovery sites and the Cloud without any downtime.
The Company is also pleased to report that it ended Q1 2017 with
cash of $7.6 million, reducing cash burn in the quarter to zero.
The combination of strong prior quarter bookings, good cash
collection and expense efficiencies realised in the quarter, along
with the receipt of the annual R&D Tax Credit from HMRC all
contributed to zero cash burn in the quarter.
David Richards, Chief Executive Officer and Interim Chairman of
WANdisco, commented:
"I am delighted to announce our largest deal since the inception
of WANdisco. This highly competitive and technologically complex
mandate reinforces our belief that Fusion is the only solution that
can enable organisations to seamlessly move large volumes of
critical data without any downtime or service disruption -
something many thought impossible.
"We continue to see increasing traction with WANdisco Fusion,
which is providing the foundation for our strong order book and
sales pipeline for the current financial year."
For further information, please contact:
WANdisco plc via Vigo Communications
David Richards, Chief Executive
Officer and Interim Chairman
Erik Miller, Chief Financial
Officer
+44 (0)207 830
Vigo Communications 9700
Jeremy Garcia / Fiona Henson
/ Antonia Pollock
www.vigocomms.com
+44 (0)207 710
Stifel (Joint Broker and Nomad) 7600
Fred Walsh / Neil Shah / Ben
Maddison / Rajpal Padam
UBS (Joint Broker) +44 (0)207 567
Rahul Luthra / Sandip Dhillon 8000
About WANdisco
WANdisco is the world leader in Active Data Replication(TM). Its
patented WANdisco Fusion technology enables the replication of
continuously changing data to the cloud and on-premises data
centers with guaranteed consistency, no downtime and no business
disruption. It also allows distributed development teams to
collaborate as if they are all working in one location. WANdisco
has an OEM with IBM as well as partnerships with Amazon Web
Services, Cisco, Google Cloud, Hewlett Packard Enterprise,
Microsoft Azure, and Oracle to resell its patented technology.
WANdisco also works directly with Fortune 1000 companies around the
world to ensure their data gives them the real insight they
need.
For additional information, please visit www.wandisco.com.
This information is provided by RNS
The company news service from the London Stock Exchange
END
CNTIJMPTMBBTBAR
(END) Dow Jones Newswires
April 24, 2017 02:00 ET (06:00 GMT)
Wandisco (LSE:WAND)
Historical Stock Chart
From Jun 2024 to Jul 2024
Wandisco (LSE:WAND)
Historical Stock Chart
From Jul 2023 to Jul 2024