$700k contract for disaster recovery via IBM
December 27 2018
WANdisco (LSE: WAND), the LiveData company, is pleased to announce, that through its OEM sales partnership with IBM, the Company has secured a contract with a major American managed healthcare company (the "Client"). The agreement will see IBM deploy the Company's patented Big Data and Cloud product, WANdisco Fusion.
The three-year agreement is valued at approximately $700k in royalties to be paid to WANdisco. Earlier this year, WANdisco significantly expanded its relationship with IBM, increasing the royalty percentage to 50% (previously 30%) and agreeing a guaranteed annual royalty commitment. In addition, WANdisco has also engaged in joint engineering work to support IBM BigSQL and other products, expanding the total addressable market.
The Client has substantial data requirements with over 45 million customers and 5,700 hospitals in its network and is using Fusion on-premise for replication and disaster recovery. It is also the first sale of WANdisco's newly released Live backup solution. WANdisco Fusion for Disaster Recovery is the only solution which ensures no downtime and no data loss in a disaster recovery scenario. WANdisco Fusion guarantees global data consistency and accessibility for a company's critical applications, protecting data in the event of a disaster without impacting on-premise or cloud application performance.
David Richards, Chief Executive Officer and Chairman of WANdisco, commented:
"We are continuing to gain strong traction in industries where critical data is needed to be continuously available. This is the second major healthcare deal we have agreed this month and follows our largest ever cloud deal valued at $3 million. Our pipeline with IBM continues to build and our expanded relationship means we can efficiently and profitably service on-premise contracts."
This announcement contains inside information for the purposes of Article 7 of Regulation (EU) No 596/2014 ("MAR"). Upon the publication of this announcement, this inside information is now considered to be in the public domain.
For the purposes of MAR and Article 2 of Commission Implementing Regulation (EU) 2016/1055, this announcement is being made on behalf of the Company by David Richards, CEO and Chairman.