TIDMWAND
RNS Number : 4875Z
WANdisco Plc
03 September 2018
3 September 2018
WANdisco plc
("WANdisco," the "Company" or the "Group")
Trading Update
IBM expands OEM agreement and increases royalty to WANdisco
Accelerating momentum in Cloud, underscored by three new
Microsoft deals in H1
WANdisco (LSE: WAND), the LiveData company, provides the
following trading update for the six months ended 30 June 2018.
Key financial highlights
-- Total bookings secured in H1 2018 of $9 million (H1 2017: $10.2 million)
o Big Data bookings secured for WANdisco Fusion ("Fusion") of
$6.2 million (H1 2017: $7.0 million)
-- Source Code Management bookings of $2.8 million (H1 2017: $3.2 million)
-- Cash on balance sheet of $18 million
-- Robust and strengthening sales pipeline underpins the Board's
continued confidence in achieving full year market expectations
Key operational highlights
-- Significantly expanded relationship with IBM
o OEM royalty increases to 50% (previously 30%)
o Guaranteed annual minimum royalty commitment
o Deeper integration including joint engineering work to support
IBM BigSQL and other products, significantly expanding addressable
market
o New customers in insurance, banking, telecommunications and US
Government
-- Momentum in Cloud with Microsoft
o Gained Co-Sell Status allowing WANdisco Fusion(R) Live Data
Platform to be sold as a standard packaged offering with Microsoft
Azure (Cloud)
o Three strategic deals with high profile Microsoft customers in
banking, semiconductors and retail:
-- Major bank introduces WANdisco Fusion to enable hybrid
cloud
-- Semiconductor company unlocks potential of cloud with
WANdisco Fusion
-- Major retailer migrates from Amazon to Microsoft
-- All of these deals have annual recurring revenues with
significant growth potential
-- Announced OEM sales partnership with Alibaba Cloud and first
product now integrated with its cloud solution
-- Filed new Blockchain Patent to potentially open a significant
new market for WANdisco's unique technology
-- Dr. Sakthi Subramanian joins WANdisco as VP of Engineering
David Richards, Chief Executive Officer and Interim Chairman of
WANdisco, commented:
"We are delighted to deepen and broaden our relationship with
IBM. We have increased the royalty payable to WANdisco and agreed
to joint development that significantly expands our opportunities
to leverage the IBM Channel.
In the first half we began the transition toward predictable,
annual recurring cloud revenue and away from large and difficult to
forecast on-premise transactions. This is an expected and extremely
positive evolution for our business. It opens up a significantly
larger addressable market in the cloud and will enable us to
generate a more predictable- recurring revenue base.
The early traction we are seeing with Microsoft clearly
demonstrates that Fusion is the only solution capable of enabling
organisations to seamlessly move large volumes of critical data to
the cloud, without any downtime or service disruption. Unlike
on-premise deals, these cloud deals are initially smaller in
revenue terms but are expected to scale materially over time as is
common with cloud deployments."
The Company has a robust and strengthening sales pipeline which
underpins the Board's continued confidence in achieving full year
market expectations.
The Company will announce its first half results on Tuesday
25(th) September.
For further information please contact:
WANdisco plc via FTI Consulting
David Richards, Chief Executive Officer and Chairman
Erik Miller, Chief Financial Officer
FTI Consulting +44 (0)20 3727 1137
Matt Dixon / Harry Staight / Leah Dudley / Kwaku Aning
Stifel (Joint Broker and Nomad) +44 (0)20 7710 7600
Fred Walsh / Neil Shah / Alex Price / Rajpal Padam
Peel Hunt (Joint Broker)
Edward Knight / Nick Prowting +44 (0)20 7418 8900
WH Ireland Limited (Joint Broker)
Adam Pollock / Tim Feather +44 (0)20 7220 1666
About WANdisco
WANdisco is shaping the future of data infrastructure with its
groundbreaking Live Data platform, enabling companies to put all
their data to work for the business - all the time, at any
scale.
WANdisco makes data always available, always accurate, and
always protected, delivering hyperscale economics to support
exponential data growth with the same IT budget. With significant
OEM relationships with IBM and Dell EMC and go-to-market
partnerships with Amazon Web Services, Cisco, Microsoft Azure,
Google Cloud, Hewlett Packard Enterprise, Oracle and other industry
titans - as well as hundreds of customers among the Global 2000 -
WANdisco is igniting a Live Data movement worldwide.
This information is provided by RNS, the news service of the
London Stock Exchange. RNS is approved by the Financial Conduct
Authority to act as a Primary Information Provider in the United
Kingdom. Terms and conditions relating to the use and distribution
of this information may apply. For further information, please
contact rns@lseg.com or visit www.rns.com.
END
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September 03, 2018 02:00 ET (06:00 GMT)
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