WANdisco has struck what it is calling a “record contract win” with one of the world’s leading financial institutions.
The deal, which is worth $4.3m (£3.2m), comes as the company has turned its fortunes around in the past 12 months, following a turbulent time that saw its founder and CEO David Richards briefly depart the company, before return a week later.
Sheffield-based WANdisco, which is now calling itself a “live data company” as opposed to an active data replication company, has not named the company that has opted to use its technology, but it would mark the second company in the industry to use the tech.
The deal will see WANdisco’s patented technology (Fusion), rebranded as IBM Big Replicate, directly to the client, delivered through the company’s IBM OEM partnership, the money paid to the live data company will come in royalties.
According to the company, Fusion was selected after an “extensive period of testing by the Client and was deemed to be the only enterprise-grade solution able to support critical Cloud and Big Data applications,” the company said.
“Fusion will be used to enable the Client to move critical live data seamlessly between both primary and disaster recovery sites and the Cloud whilst ensuring the data is always available.”
David Richards, CEO and Interim Chairman of WANdisco, said: “We are delighted to have secured this record contract win, which further endorses our strong credentials within the financial services sector as well as providing additional validation that our IBM partnership is successfully delivering our solutions into very large enterprise customers.
“As a result of Fusion’s unique capability, we have developed a significant new business pipeline across multiple industry verticals not only through our partnership with IBM, but via our other channel partners, as we maximise our routes to market.”
Shares in the company have risen from 195.30 in January 2017 to 636.80 at time of writing, highlighting the significant turnaround the company has made.