Business
WANdisco multi-year global automotive contract win
WANdisco multi-year global automotive contract win.
About this update from Cirata Plc
[{"type":"text","content":"\n \n \n \n RNS Number : 0516V\n WANdisco Plc\n 09 December 2021\n \n \n \n \n 09 December 2021\n \n \n \n \n \n WANdisco plc\n \n \n (\"WANdisco\" or the \"Company\")\n \n \n \n \n \n Largest Ever multi-year contract win with large global automotive supplier \n \n \n \n \n \n Contract valued at $6m over five years\n \n \n Opens new IoT market beyond the Hadoop market\n \n \n Client committed to replicating a minimum of 60PB per month, with potential for expansion\n \n \n \n \n \n \n \n WANdisco\n \n \n (LSE: WAND), the LiveData company, has won an inaugural IoT (Internet of Things) contract with a large European automotive components supplier ('the Client'). The Client has entered into a 'Commit to Consume' contract valued at a minimum of $6m over five years, to replicate over an exabyte of automobile sensor data to the Google cloud. \n \n \n \n \n \n The Client is deploying WANdisco's LiveData Migrator to support its edge computing platform to replicate sensor data from automotive components in an on-premise data centre to the Google cloud for use in multiple analytics platforms. The Client's objective is to create multiple services in the cloud to be consumed by automotive manufacturers and insurance companies. \n \n \n \n \n \n WANdisco's unique technology was the only solution capable of moving the sensor data to the cloud within Google's ecosystem effectively and without disruption. This represents the first contract win in the IoT space, and opens up a new and significant, market opportunity for WANdisco. \n \n \n \n \n \n This contract with the customer marks another 'Commit to Consume' contract as described in its half year report and aligns revenue to the consumption of services, as is the standard in the cloud, while enhancing the predictability of future revenues. The Client committed a minimum of $100k of revenue per month for five years. Additionally, the Client expects significant data growth over the life of the contract, representing a potentially large expansion opportunity for WANdisco.\n \n \n \n \n \n WANdisco CEO and Chairman David Richards, commented:\n \n \n \n \n \n \"This contract win marks a significant moment for WANdisco and represents what is believed to be the largest ever data movement to cloud. It is the largest to date 'Commit to Consum...