Financial services contract win for data software company

Listed live data business, WANdisco, has won a significant contract win through its IBM channel.

IBM has secured a $3.3m/£2.5m three-year license contract with a large, North American multinational investment bank for the use of LiveData Migrator.

Initially, the contact is for on-premises data replication with further use cases for cloud migration providing opportunities to expand the relationship.

Following the agreement with IBM, WANdisco will obtain 50% of the license revenue.

It follows last year’s extension of WANdisco and IBM’s existing relationship which integrated WANdisco’s LiveData Migrator into IBM’s Big Replicate solution; allowing IBM customers to seamlessly migrate on-premise data to hybrid cloud and multi-cloud infrastructures.

David Richards, CEO and chairman of Sheffield-based WANdisco, said: “IBM is our longest standing partner and I am pleased to see our relationship continue to bear fruit with this important financial services customer win.

“The initial use case is on-premise data replication but going forward, there are further use cases in the cloud which opens up additional expansion opportunities.

“LiveData Migrator has been available for just over a year and is making important strides across multiple platforms and use cases.

“Following this contract, we are pleased to update our financial expectations for FY21. We now expect FY21 revenues to be meaningfully ahead of current market estimates.”