Largest-ever deal for Sheffield technology company
Technology company WANdisco has secured its largest-ever contract as the Sheffield data specialist remains “incredibly excited” about the growth opportunities it has.
The $11.6m (£9.5m) deal is with an unnamed “top ten global communications company” that is one of the world’s largest suppliers of Internet of Things (IoT) applications.
It follows orders of $1.5m and $1.2m from the same customer which were announced in March. Nearly half of the deal value will be paid in advance
Dave Richards, chief executive of WANdisco said: “We remain incredibly excited about the opportunity in IoT to both expand on these sticky customer relationships and support new customers facing data challenges.
“The general availability of our product and its unique capability in moving data seamlessly, at scale to the cloud, gives us confidence that we will win more critical IoT migration contracts and take market share.”
It is a “Commit-to-Consume contract” and WANdisco believes this deal “demonstrates the scale opportunity” of the model.
Commit-to-Consume is structured so that customers can migrate increasing amounts of data over time, enabling significant expansion opportunities and driving revenue growth.