Business
Follow-on agreement with global telco
Follow-on agreement with global telco.
About this update from Cirata Plc
[{"type":"text","content":"\n \n \n \n RNS Number : 6770G\n WANdisco Plc\n 31 March 2022\n \n \n \n \n 31 March 2022\n \n \n \n \n \n WANdisco plc\n \n \n \n \n \n (\"WANdisco\" or the \"Company\")\n \n \n \n \n \n Follow-on agreement with global telco\n \n \n \n \n \n $1.5m commit-to-consume agreement announced 23 March generates first significant follow-on deal for WANdisco: an additional $1.2m commit-to-consume deal following end-customer smart meter data volumes increase\n \n \n \n \n \n \n \n WANdisco\n \n \n (LSE: WAND), the LiveData company\n , is pleased to announce that it has signed a follow-on agreement worth $1.2m with the top ten global communications company (the \"Customer\") it announced an initial $1.5m commit-to-consume agreement with on 23 March, 2022. \n \n \n \n \n \n The Customer is one of\n the largest global service suppliers of \n Internet of Things ('IoT') applications. \n Less than ten days ago, WANdisco announced that the Customer will use WANdisco's LiveData Migrator (\"LDM\") and LiveData Migrator for Azure (\"LDMA\") products to migrate the Smart Meter data it collects from an on-premise Hadoop cluster to multiple cloud providers (Azure and AWS). \n \n \n \n \n \n This initial opportunity covered the migration of 8 petabytes of data from Hadoop to the cloud, with the potential to extend the use case across architectures and geographies. \n Under WANdisco's Commit-to-Consume contract structure, WANdisco anticipated that revenue from this Customer would grow beyond the initial $1.5m agreement, as the Customer moved to migrate increasing amounts of data over time.\n \n \n \n \n \n The first meaningful increase in the volume of data being migrated has now taken place, driven by an increase in data throughput for one of the Customer's end-customer smart meter operators. The migration of this additional volume equates to an additional $1.2m of commit-to-consume revenue for WANdisco. \n \n \n \n \n \n David Richards, CEO and Co-founder of WANdisco said:\n \n \n \n \n \n \"To announce such a significant follow-on deal with a global telecom firm, not even ten days after unveiling the first anchor agreement with them, speaks to the true scale of the opportunity WANdisco is targeting. Every company, everywhere has data challenges to overcome - and pioneering approa...