WANdisco Plc Significant contract win and market update (1139W)
20 Diciembre 2021 - 1:00AM
UK Regulatory
TIDMWAND
RNS Number : 1139W
WANdisco Plc
20 December 2021
WANdisco plc
("WANdisco" or the "Company")
Significant contract win and market update
IBM has secured a $3.3m three-year contract with a large North
American multinational investment bank for the use of LiveData
Migrator in an initial on-premise use case
WANdisco's revenue share will be 50% of the license under its
long-standing OEM agreement with IBM
Following this contract win, management now expects FY21
revenues to be meaningfully ahead of current market estimates
WANdisco (R) (LSE: WAND), the LiveData company, today announces
a significant contract win through its IBM channel. IBM has secured
a $3.3m three-year license contract with a large North American
multinational investment bank for the use of LiveData Migrator.
The initial use case will be for on-premises data replication
with further use cases for cloud migration providing opportunities
to expand the relationship. Following the agreement with IBM,
WANdisco will obtain 50% of the license revenue.
This announcement follows last year's extension of WANdisco and
IBM's existing relationship which integrated WANdisco's LiveData
Migrator into IBM's Big Replicate solution; allowing IBM customers
to seamlessly migrate on-premise data to hybrid cloud and
multi-cloud infrastructures.
Further to this agreement, the management now expects FY21
revenues to be meaningfully ahead of current market estimates.
David Richards, CEO and Chairman, WANdisco, said : "IBM is our
longest standing partner and I am pleased to see our relationship
continue to bear fruit with this important financial services
customer win. The initial use case is on-premise data replication
but going forward, there are further use cases in the cloud which
opens up additional expansion opportunities. LiveData Migrator has
been available for just over a year and is making important strides
across multiple platforms and use cases. It remains the only
solution for zero disruption and zero downtime data replication at
scale.
Following this contract, we are pleased to update our financial
expectations for FY21. We now expect FY21 revenues to be
meaningfully ahead of current market estimates."
For further information, please contact:
WANdisco plc via FTI Consulting
David Richards, Chief Executive Officer
and Chairman
Erik Miller, Chief Financial Officer
Daud Khan, VP Corporate Development
+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
Panmure Gordon (Joint Broker) +44 (0)20 7886
Erik Anderson / Alina Vaskina 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. Market Soundings, as defined in
MAR, were taken in respect of the proposed Placing with the result
that certain persons became aware of this inside information, as
permitted by MAR. Upon the publication of this announcement, this
inside information is now considered to be in the public domain.
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 LiveData company. WANdisco's LiveData Cloud
Services enable enterprises to create an environment where data is
always available, accurate and protected, creating a strong
backbone for their IT infrastructure and a bedrock for running
consistent, accurate machine learning applications. With zero
downtime and zero data loss, WANdisco LiveData Platform keeps
geographically dispersed data at any scale consistent between
on-premises and cloud environments allowing businesses to operate
seamlessly in a hybrid or multi-cloud environment. For more
information on WANdisco, visit www.wandisco.com .
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