14 Jun 2017 Tom Howard, Proactive Investors

WANdisco glistens as it bags US$2mln contract with large US retailer

Shares in WANdisco PLC (LON:WAND) surged this morning after the data analytics specialist secured a US$2mln contract with “one of the world’s largest retailers”.

The name of the customer wasn’t revealed, but WANdisco did say that it was a “major American multinational retail corporation”.

AIM-quoted WANdisco said it would receive the full payment up front in 30 days’ time.

Under the terms of the deal, the retailer will deploy WANdisco’s ‘big data’ and cloud service, WANdisco Fusion, on a three-and-a-half year subscription licence agreement. Fusion was deemed to be the only enterprise-grade solution available which enabled the client to move active, critical data seamlessly between primary and disaster recovery sites and the Cloud with no downtime.

“This contract marks our entry into the retail sector - a new vertical for WANdisco - demonstrating that the requirement for Fusion exists across a multitude of industries globally,” said chief executive Dave Richards. “Our strong contract momentum continues to highlight Fusion's unique ability to empower global organisations to leverage their Big Data applications and unlock the full potential of cloud analytics.”

As Richards hinted at, WANdisco has enjoyed a decent run in terms of new contract wins. Back in April, the group picked up its largest ever contract – worth US$4.1mln – after a major financial services multinational also chose to use Fusion.

Shares gained 13% to 520p.