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WANdisco PLC - Sheffield-based data-management software company - Wins two contacts with ‘leading information and communications technology providers’ in China for about $2.5 million. It says the contracts' 50% value are recognised as immediate revenue for WANdisco. The contracts represent a renewal and significant expansions of two existing licence agreements with key clients.
Chair David Richards says: ‘China remains a largely untapped market for us where we are steadily building a presence with our direct sales channel and reseller relationships. In this case, the clients are both global companies with a presence in multiple geographies. The expanded contracts showcase both the strength of our strategic alliances and the mission-critical nature of our products. We now have a solid platform to grow in this key strategic market and see a strong pipeline of potential opportunities.’
Current stock price: 292.50 pence, up 3.7%
12-month change: down 24%
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