28th Jun 2022 10:35
(Alliance News) - WANdisco PLC on Tuesday said it has signed a USD11.6 million follow-on agreement with an unnamed "top ten global communications company".
Shares in the Sheffield-based data-management software company were up 9.9% to 295.75 pence each in London on Tuesday morning.
The customer will use WANdisco's LiveData Migrator and LiveData Migrator for Azure to automate the migration of Hadoop data to AWS and Azure.
The terms of the contract provide that 50% of the USD11.6 million will be paid in advance. Also, as it is a commit-to-consume contract, revenue will be recognised as the customer moves its data.
WANdisco said that the contract is its third successive deal with the "top ten global telecommunications company" in three months. Back in March, the customer signed a USD1.5 million contract as well as a USD1.2 million follow-on order. The cumulative total from this customer is now USD14.3 million.
This "demonstrates the scale opportunity of the commit-to-consume model," the company added. Co-Founder, Chair and Chief Executive David Richards said: "This USD11.6 million order is the third successive agreement we have signed with this customer and represents our largest ever contract to date.
"The general availability of our product and its unique capability in moving data seamlessly, at scale to the cloud, gives us confidence that we will win more critical internet of things migration contracts and take market share."
By Sophie Rose; [email protected]
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