WANdisco revenues boost as group hails China deal
LIVE DATA firm WANdisco has hailed a “tremendous” 2017 as the Sheffield-based firm saw revenues increase 73 per cent, driven by cloud and big data bookings.
WANdisco also announced an Original Equipment Manufacturer (OEM) sales agreement with Alibaba Cloud, the cloud computing arm of the Alibaba Group in China.
Revenues increased 73 per cent to $19.6m in the year ended December 31, 2017, at WANdisco.
Bookings were up 45 per cent year-on-year to $22.5m with demand for WANdisco’s flagship Fusion product up 121 per cent. David Richards, CEO and
The chairman of WANdisco, told Yorkshire Post
that bookings were being driven by the adoption of big data and cloud computing by major corporations.
Under the sales agreement with Alibaba, the WANdisco Fusion product, which seamlessly replicates transactional data, will be sold as a standard component on the Alibaba Cloud.
Mr Richards said: “This is really good news for our shareholders because it now opens up another significant market in cloud computing.”
He added: “Some of the world’s largest datasets are in China. There’s quite a big desire to move those into the Alibaba cloud. That’s why Alibaba have signed this deal with us.”
WANdisco, which employs around 60 staff in Sheffield, expects the imminent introduction of General Data Protection Regulation (GDPR) in Europe to drive more work. Companies are concerned about data provenance and security. Mr Richards believes WANdisco is the solution to that problem.
The big data firm also narrowed its adjusted EBITDA loss from $7.5m in 2016 to $600,000 in 2017.
Looking ahead to 21018, Mr Richards said the firm is looking to continue its growth.
“We’re very excited about the opportunities that are opening up for us in cloud,” he said.