Share price jumps 10% at software company after major contract win
Wandisco’s share price has jumped 10% following a major contract win.
The Sheffield and San Francisco-based software development company saw its share price rise 50.0p, closing at 510.0p yesterday, a rise of nearly 11%.
It experienced a similar effect after winning a record £3.2m deal for its big data and cloud product Fusion. Its share price rose 20% following the announcement in April.
Yesterday it secured a $2m contract with a major American multinational retailer which will see the client deploy the company’s patented Big Data and Cloud product, WANdisco Fusion.
David Richards, chief executive officer and co-founder of WANdisco, commented on the announcement: “For a retailer of this scale downtime is not an option. The Client is replacing legacy systems so it can generate greater levels of consumer insight and merchandising intelligence – data which is invaluable in the retail sector.
“With our patented technology, the Client can now move large volumes of critical data and upgrade its systems seamlessly, whilst maintaining strict service level agreements across its disaster recovery operations.
“This contract marks our entry into the retail sector – a new vertical for WANdisco – demonstrating that the requirement for Fusion exists across a multitude of industries globally. Our strong contract momentum continues to highlight Fusion’s unique ability to empower global organisations to leverage their Big Data applications and unlock the full potential of Cloud analytics.”
