Business
Major IoT deal with multinational insurance group
Major IoT deal with multinational insurance group.
About this update from Cirata Plc
[{"type":"text","content":"\n \n \n \n RNS Number : 2253H\n WANdisco Plc\n 05 April 2022\n \n \n \n \n 05 April 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 Major IoT deal with multinational insurance group\n \n \n \n \n \n LiveData Migrator and LiveData Migrator for Azure General Availability leads to significant contract win\n \n \n \n \n \n Commit-to-Consume contract with the potential to expand across geographies\n \n \n \n \n \n \n \n WANdisco\n \n \n (LSE: WAND), the LiveData company\n , today announces that it has signed a contract worth $630k with one of the largest insurance groups (the \"Group\") in Europe. This contract is structured as a Commit-to-Consume transaction and revenues will begin to be realised this year.\n \n \n \n \n \n Using WANdisco's LiveData Migrator (LDM) and LiveData Migrator for Azure (LDMA) the Group plans to automate the migration of IoT data to multiple cloud providers including AWS, Azure and Google.\n \n \n \n \n \n \n The Group intends to move large amounts of Internet of Things (IoT) data, originally collected from connected cars to the cloud, enabling it to implement new insurance models based on driving behaviours.\n \n \n \n \n \n WANdisco was chosen as the preferred solution provider as the Group was looking for a cloud-agnostic provider that offered the flexibility to transfer data to multiple cloud platforms, in line with its multi-cloud strategy.\n \n \n \n \n \n As the Group operates in over 30 countries across Europe and Asia, WANdisco projects that revenue from this Group has the potential to grow beyond the initial $630k agreement, as the Group migrates increasing amounts of data over time.\n \n \n \n \n \n David Richards, CEO and Co-founder of WANdisco said:\n \n \n \n \n \n \"This deal underpins WANdisco's excitement about the size of our market opportunity in cloud and IoT. This agreement with one of the world's largest insurance groups has significant upside potential for our partnership to scale further under our Commit-to-Consume contract model. \n \n \n \n \n \n We are hugely confident about gaining further market share especially as the cloud-agnostic nature of our solutions and the General Availability of LiveData Migrator and LiveData Migrator for Azu...