Wandisco lands $2.15m contract with Chinese firm

Live data company Wandisco has inked a deal with an unnamed Chinese firm that will see the AIM-listed outfit provide its mystery client with a limited perpetual license to use its patented Fusion platform.

Wandisco's new client purchased the license to use Fusion across its enterprise as part of an agreement valued at approximately $2.15m.

The Sheffield- and San Ramon, California-based business believes "significant opportunity" for further growth remains from the contract as the use cases for the unnamed client looked set to expand over time.

Wandisco, which will publish full-year results on 24 April, also highlighted that China represented a significant opportunity for wider growth within the rapidly expanding cloud market, which has been witnessing the proliferation of multi-cloud uses for technologies such as artificial intelligence and edge computing.

Chief executive David Richards said: "China remains a largely untapped market for us, but we have steadily built our presence both with a direct sales channel as well as our OEM with Alibaba, the largest cloud vendor in Asia.

"We have established a strong strategic alliance which forms a solid platform from which to grow our opportunity in the future."

As of 1040 BST, Wandisco shares had climbed 7.64% to 671.70p.