Company spies fresh transport sector opportunities with £10.5m deal
Live data business WANdisco has signed an initial agreement worth $12.7m/£10.5m with a global European-based automotive manufacturer.
The agreement is for Internet of Things (IoT) data which resides in the client’s data centre to be migrated to the cloud.
About 80% of the revenues from this deal are expected to be recognised in FY22, with the balance falling into FY23. Once the data migration is complete, it is expected that the client will launch a range of IoT-related services.
WANdisco’s board now expects the company’s FY22 revenues will be significantly ahead of market expectations and no less than $19m/£15.7m. In addition, bookings for FY22 are expected to be in excess of $116m/£95.7m.
David Richards, CEO and chairman of Sheffield-based WANdisco, said: “This contract shows that we are the preferred choice for customers that want to seamlessly and securely migrate large scale data from on premise and edge platforms to the cloud.
“The transport industry which includes automotive manufacturers, automotive component suppliers and rail companies represents a sizeable opportunity for the company.
“Interest in the company’s solutions has accelerated and includes active discussions with several automotive manufacturers to use WANdisco’s unique technology to move data to the cloud, enabling several additional services to be offered to its customers.
“As we exit 2022, we look forward to 2023 with confidence; not only do we expect to convert the significant opportunities we have in our pipeline but we hope to see increased consumption from all of the agreements signed in 2022, providing increased revenue visibility as we progress through the year.”