Business
Contract Renewals
Contract Renewals.
About this update from Cirata Plc
[{"type":"text","content":"\n \n \n 4 April 2023\n \n \n \n \n \n WANdisco plc \n \n \n \n \n \n (\"WANdisco\" or the \"Company\") \n \n \n \n \n \n Contract Renewals\n \n \n \n \n \n \n BMW Group and Maxim Integrated agree license renewals for WANdisco solutions\n \n \n \n \n \n \n \n \n \n \n WANdisco \n \n (LSE: WAND), the data activation platform, is pleased to confirm two contract renewals secured in recent days with major global organizations. Both renewals cover usage of WANdisco\n SVN MultiSite:\n the Company's source code management software solution that delivers active-active replication and LAN-speed performance over Wide Area Networks for global collaboration. \n \n \n \n \n \n Contract Wins\n \n \n \n \n \n First, BMW Group has agreed to a continued multi-year license engagement with WANdisco and accompanying support service. BMW Group has been a WANdisco customer since 2016. WANdisco technology is a critical part of BMW's software engineering infrastructure, relied upon by its globally distributed development teams. The agreement covers usage of WANdisco source code management tools Subversion MultiSite Plus and Git MultiSite.\n \n \n \n \n \n In addition, Maxim Integrated,\n a subsidiary of Analog Devices, which designs, manufactures, and sells analogue and mixed-signal integrated circuits for the automotive, industrial, communications, consumer, and computing markets, has agreed a five-year subscription license renewal with WANdisco. The business has been a customer since 2018 and has relied on WANdisco to ensure its global operations remain uninterrupted, with no downtime, even during routine maintenance. Maxim Integrated has increased its usage of SVN MultiSite by over 50% since 2018 and views WANdisco's solutions as mission critical in enabling the business' global distributed engineering and development teams to create and release products. \n \n \n \n \n \n Financial Treatment\n \n \n \n \n \n Taken together, these two contract renewals are expected to deliver USD 1.5 million in revenue to WANdisco over the next five years. It is anticipated that approximately USD 1.0 million of this revenue will be recognized in current financial year FY 2023. A further approximately USD 0.2 million will be recognized i...