Shares soar 20% at Big Data company
Shares in big data company Wandisco soared 20% after it announced its biggest ever deal yesterday.
The deal, worth $4.1m (£3.2m) was with a multinational financial services firm, to which it will provide its cloud and Big Data services via its newly-launched Fusion product.
Shares closed at 462.00p yesterday in another vote of confidence for the business after a turbulent year at the top table.
Wandisco also reported that it ended Q1 2017 with cash of $7.6m, reducing cash burn in the quarter to zero.
It said that a combination of strong prior quarter bookings, good cash collection and expense efficiencies were realised in the quarter, along with the receipt of the annual R&D Tax Credit from HMRC.
