20th Dec 2022 16:12
(Alliance News) - WANdisco PLC on Tuesday said it has signed a USD31 million agreement with an unnamed, "second tier 1 global telecommunications supplier."
Shares in the Sheffield-based data-management software company were up 13%to 899.73 pence each in London on Tuesday afternoon.
WANdisco said half of the USD31 million will be paid in advance, following the beginning of the project.
As it is a 'Commit-to-Consume' contract, revenue will be recognised as the client moves its data.
It explained that the telecommunications sector is a "key strategic target market", as it supports a number of industry verticals with their own "Internet of Things" use cases.
It added that WANdisco was chosen as the preferred provider, because of its ability to migrate data at scale without requiring any system downtime, along with its capacity to automatically migrate data changes as they occur, ensuring data consistency.
Chief Executive & Chair David Richards said: "This is the second tier 1 global telecommunications company to choose WANdisco's solutions this year, underpinning our unique ability to seamlessly and securely migrate large scale data from edge platforms to the cloud. This contract represents a record initial agreement for our business, with the potential for this value to grow further as we have seen with other customers."
By Sophie Rose, Alliance News reporter
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