Live data firm wins £10.7m follow-on deal with global auto supplier
Data business WANdisco has signed its second follow-on agreement worth a further $13.2m/£10.7m with a large European automotive components provider.
It means the combined commit-to-consume contract value from the Sheffield-based company’s three agreements with this client in 2022 now totals $25.3m/£20.5m. Half of this total sum will be paid in advance.
Terms were originally signed with the client to replicate automobile sensor data to the Amazon Web Services cloud. However, the initial data which was to be transferred has again exceeded initial requirements, driven by a significant customer win by the client.
David Richards, CEO and chairman of WANdisco, said: “We are pleased to have signed yet another significant follow-on deal with a large customer in the key automotive sector in IoT.
“Our unique technology means we remain the only platform capable of effectively moving sensor data to the cloud at scale, within the client’s chosen ecosystem.
“We are seeing an acceleration of interest in our solutions and as a result, our pipeline remains at a record level both in terms of the number of opportunities and the combined value of those opportunities.
“We believe the rapid expansion that has followed the initial contract in this client case is something we expect to replicate with a number of other customers.”
