$6.6m contract win with global telco
10 January 2023
WANdisco plc
("WANdisco" or the "Company")
$6.6m contract win with global telco
$6.6m data migration contract with European-based global
telecommunication service provider
Telecommunications sector a core and growing revenue market
for WANdisco
Significant further expansion opportunities through IoT use cases
WANdisco (LSE: WAND), the data activation platform, is pleased to announce that it has signed an initial agreement (the "Agreement") worth $6.6m with a European-based global telecommunications service provider (the "Client"). The Agreement is a one-off migration that provides for Internet of Things ('IoT') data that resides in the Client's data centre to be migrated to the cloud.
WANdisco was chosen due to its proven ability to migrate petabyte scale data. Once the migration is complete, it is expected that the Client will launch a range of IoT-related services.
With the proliferation of IoT devices, telecommunication service providers are increasingly seeing data as an important revenue opportunity. This industry vertical is a strategic target market for WANdisco with a healthy pipeline of further opportunities. The Company expects this industry to continue being a core and growing market for WANdisco.
David Richards, CEO and Chairman of WANdisco, commented :
"This is the third tier 1 global telecommunications company to choose WANdisco's solutions since the start of 2022, underpinning our unique ability to seamlessly and securely migrate large scale data from edge platforms to the cloud. As the Company has seen with other customers, WANdisco believes there is potential for significant expansion opportunities with this customer.
The IoT use case of moving data from edge platforms to the cloud, is continuing to drive a significant pipeline of opportunities for our business. Companies across multiple industry verticals face significant challenges in successfully executing this data movement and unlocking the full capabilities of the cloud. Our unique solutions and proven experience in the IoT market make us well placed to continue winning market share and supporting clients around the globe."
For further information, please contact:
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WANdisco plc |
via FTI Consulting |
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David Richards, Chief Executive Officer and Chairman |
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Erik Miller, Chief Financial Officer Kam Bansil, Investor Relations |
+44 (0)20 7039 1901 |
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FTI Consulting |
+44 (0)20 3727 1137 |
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Matt Dixon / Kwaku Aning / Tom Blundell |
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Stifel (Nomad and Joint Broker) |
+44 (0)20 7710 7600 |
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Fred Walsh / Richard Short |
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Panmure Gordon (Joint Broker)
Erik Anderson / Alina Vaskina / Dougie McLeod |
+44 (0)20 7886 2500 |
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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