WANdisco Plc Business Update (4718H)
25 Marzo 2020 - 1:00AM
UK Regulatory
TIDMWAND
RNS Number : 4718H
WANdisco Plc
25 March 2020
25 March 2020
WANdisco plc
("WANdisco", the "Company" or the "Group")
Business Update
WANdisco plc (the "Company") issues the following update:
Significant Contract Win & Business Update
Business momentum since the Company's Trading Update in February
has been very encouraging. In the next few weeks, we expect to
enter full public availability with our embedded Fusion Resource
Provider ("FRP") product with Microsoft. As a result of this
success, the Company has won a contract, worth $1 million, with a
division of one of the world's largest media and telecommunications
companies. WANdisco Fusion will be used to keep data in sync across
on-premise locations and the Microsoft Azure cloud to enable
analytical and machine learning data use cases. The uniqueness of
Fusion resulted in WANdisco being the only vendor considered for
the customer's data consistency solution. The Company sees further
near-term opportunities working with this customer and
Microsoft.
Results Date and Capital Markets Day
Following the Financial Conduct Authority's (FCA) strong request
to all listed companies to delay the publication of preliminary
financial statements, the publication of the Group's FY19 results
will now take place on Tuesday, 21 April.
The Company also intends to host a Capital Markets Day in the
summer months, to provide further context around recent and
positive developments in its partnership ecosystem, product set and
growing market opportunity.
David Richards, CEO and Chairman of WANdisco commented:
"Despite the ongoing restrictions brought about by the COVID-19
pandemic, our customers continue to see the underlying imperative
of moving data to the cloud. The advantages this brings of both
cloud economics and the ability to run sophisticated machine
learning applications is proving extremely valuable to the many
organizations working in difficult, distributed and remote settings
at this time.
"I am pleased to see our product initiatives continue to
progress as planned and look forward to entering public preview
with our embedded product which will usher in a new phase of our
company growth. Our workforce has settled into the new normal of
working remotely and I'm extremely proud that productivity levels
remain as high as ever."
The COVID-19 situation has led to the implementation of
long-standing business continuity measures, with staff working from
home across the globe. The Group's balance sheet remains strong
following the successful $16.5 million equity fundraise in November
2019, enabling the Group to withstand near-term uncertainty. The
current demand environment remains strong and our partner pipeline
continues to grow.
Audit Appointment
The Company is pleased to confirm that, following the conclusion
of a formal tender process, it has appointed BDO LLP ("BDO") as its
new auditor for the financial year ending 31 December 2019. The
appointment of BDO for the following financial year will be subject
to approval by shareholders at the next Annual General Meeting of
the Company, to be held in 2020.
The current auditor KPMG LLP has formally resigned and has
confirmed that there are no reasons or matters connected with its
ceasing to hold office as auditors, which they consider should be
brought to the attention of the members or creditors of the Company
in accordance with section 519 of the Companies Act 2006.
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 / Chris Birt / Kwaku Aning
Stifel (Nomad and Broker) +44 (0)20 7710 7600
Fred Walsh / Rajpal Padam
Peel Hunt (Joint Broker)
Edward Knight / Nick Prowting +44 (0)20 7418 8900
About WANdisco
WANdisco is the LiveData company that empowers enterprises to
revolutionize their IT infrastructure with its ground-breaking
DConE technology that powers the WANdisco Fusion platform, enabling
companies to generate hyperscale economics with the same IT budget
- across multiple development environments, data centres, and cloud
providers.
WANdisco Fusion powers hundreds of the Global 2000, including
Cisco Systems, Allianz, AMD, Juniper, Morgan Stanley and more. With
significant OEM relationships with IBM and Alibaba and go-to-market
partnerships with Amazon Web Services, Microsoft Azure, Google
Cloud, Oracle and other industry titans, WANdisco is igniting a
LiveData movement worldwide.
For more information on WANdisco, visit http://www.wandisco.com
.
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END
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