LONDON (ShareCast) - (Sharecast News) - Data specialist WANdisco has signed an initial agreement worth $6.6m with an unnamed Europe-based global telecommunications service provider, it announced on Tuesday.
The AIM-traded firm said the deal was for a one-off migration that would provide for internet-of-things (IoT) data that resides in the client's data centre, to be migrated to the cloud.

It said it was chosen for its proven ability to migrate petabyte-scale data, adding that once the migration was complete, it was expected that the client would launch a range of IoT-related services.

"This is the third tier-one global telecommunications company to choose WANdisco's solutions since the start of 2022, underpinning our unique ability to seamlessly and securely migrate large scale data from edge platforms to the cloud," said chief executive officer and chairman David Richards.

"As the company has seen with other customers, WANdisco believes there is potential for significant expansion opportunities with this customer.

"The IoT use case of moving data from edge platforms to the cloud, is continuing to drive a significant pipeline of opportunities for our business."

Richards said companies across multiple industry verticals were facing "significant challenges" in executing that data movement, and unlocking the full capabilities of the cloud.

"Our unique solutions and proven experience in the IoT market make us well placed to continue winning market share and supporting clients around the globe."

At 1500 GMT, shares in WANdisco were up 0.56% at 907.04p.

Reporting by Josh White for Sharecast.com.

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