WANdisco Plc Contract Renewals (2352V)
April 04 2023 - 2:00AM
UK Regulatory
TIDMWAND
RNS Number : 2352V
WANdisco Plc
04 April 2023
4 April 2023
WANdisco plc
("WANdisco" or the "Company")
Contract Renewals
BMW Group and Maxim Integrated agree license renewals for
WANdisco solutions
WANdisco (LSE: WAND), the data activation platform, is pleased
to confirm two contract renewals secured in recent days with major
global organizations. Both renewals cover usage of WANdisco SVN
MultiSite: the Company's source code management software solution
that delivers active-active replication and LAN-speed performance
over Wide Area Networks for global collaboration.
Contract Wins
First, BMW Group has agreed to a continued multi-year license
engagement with WANdisco and accompanying support service. BMW
Group has been a WANdisco customer since 2016. WANdisco technology
is a critical part of BMW's software engineering infrastructure,
relied upon by its globally distributed development teams. The
agreement covers usage of WANdisco source code management tools
Subversion MultiSite Plus and Git MultiSite.
In addition, Maxim Integrated, a subsidiary of Analog Devices,
which designs, manufactures, and sells analogue and mixed-signal
integrated circuits for the automotive, industrial, communications,
consumer, and computing markets, has agreed a five-year
subscription license renewal with WANdisco. The business has been a
customer since 2018 and has relied on WANdisco to ensure its global
operations remain uninterrupted, with no downtime, even during
routine maintenance. Maxim Integrated has increased its usage of
SVN MultiSite by over 50% since 2018 and views WANdisco's solutions
as mission critical in enabling the business' global distributed
engineering and development teams to create and release
products.
Financial Treatment
Taken together, these two contract renewals are expected to
deliver USD 1.5 million in revenue to WANdisco over the next five
years. It is anticipated that approximately USD 1.0 million of this
revenue will be recognized in current financial year FY 2023. A
further approximately USD 0.2 million will be recognized in FY
2024, with approximately USD 0.1 million recognized in each of the
remaining three financial year periods.
For further information, please contact:
WANdisco plc via FTI Consulting
+44 (0)20 3727
FTI Consulting 1137
Matt Dixon / Kwaku Aning / Tom Blundell
+44 (0)20 7710
Stifel (Nomad and Joint Broker) 7600
Fred Walsh / Richard Short / Tom
Marsh
Liberum (Joint Broker)
+44 (0)20 3100
Max Jones / Kate Bannatyne 2000
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. 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 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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END
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