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WANdisco PLC - Sheffield-based data-management software company - Announces ‘major’ internet of things contract worth $630,000 with an unnamed insurance company in Europe. The customer will use WANdisco's LiveData Migrator and LiveData Migrator for Azure to automate migration of IoT data to multiple cloud providers. WANdisco projects revenue from the contract is likely to grow beyond the initial contract, as the customer operates in over 30 countries in Europe and Asia and will have further data migration needs.
‘This deal underpins WANdisco's excitement about the size of our market opportunity in cloud and IoT. This agreement with one of the world's largest insurance groups has significant upside potential for our partnership to scale further under our commit-to-consume contract mode,’ says Chief Executive Officer & Co-founder David Richards.
Current stock price: 290.00 pence, down 1.1% on Tuesday
12-month change: down 38%
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