Tech firm shares jump after Big Data product launch

David Richards, chief executive of WANdisco

David Richards, chief executive of WANdisco

Sheffield and San Francisco technology business Wandisco has seen its share price jump more than 8% after announcing the launch of its latest Big Data replication product.

Wandisco’s share price closed at 435.00p yesterday, 8.75% up on its opening price. It reached a one-year high of 519.00p earlier this month after announcing in its preliminaries that bookings were up 72% and revenue for the year had increased t $11.4m (£9.17m).

According to the firm, Wandisco Fusion 2.10 allows data to be replicated in stages, supporting hybrid cloud use cases for burst-out processing (when an application runs in a private cloud or data center and bursts into a public cloud when the demand for computing capacity spikes) primarily used for data analytics and offsite disaster recovery.

Wandisco said that with the volume of data stored on-premises expected to increase five-fold by 2020 and 92% of workloads expected to be processed by cloud data centres1, WANdisco’s Fusion 2.10 is ideally placed to capitalise on this shift.

It followed the announcement that, as part of its long term incentive plan, CEO (as well as interim chairman and co-founder) David Richards and board member Yeturu Aahlad announced the sale of restricted stock units.

David Richards, chief executive officer and interim chairman of WANdisco, said at the time of the announcement:”The launch of Fusion 2.10 is an important milestone for WANdisco as it significantly increases the total addressable market for our patented Fusion product and means it is now compatible with NFS/NetApp devices.

“Global enterprises increasingly need to move large volumes of data at speed across both on-premises and cloud environments and WANdisco Fusion is the only solution on the market which can do this with guaranteed consistency, no downtime and no disruption to business operations to ensure our customers get the most value from their data.”

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