WANdisco ready for growth after IPO

SOFTWARE company WANdisco has seen a 60% increase in subscriptions for its services in the first half of the year.

The Sheffield-based business, which floated on the AIM market last month, recorded bookings of almost £2.2m in the first six months of 2012.

WANdisco said new customers included document services firm Ricoh and IT company Huawei – its first product sale in China.

The company raised around £15m when it floated last month  and WANdisco said this morning that cash, combined with further cash generated through trading, meant it was
now “in a strong position to accelerate its growth further by enlarging its sales team and investing in new products”.

During the first half major companies including Cisco Systems and Disney renewed their subscriptions with the overall renewal rate running at 113%.

WANdisco’s IPO last month was the first by a Yorkshire company in two years and valued the business at £37m.