WANdisco - $13.2m follow-on automotive win

WANdisco has announced another follow-on deal with a major European automotive supplier, worth $13.2m on a commit-to-consume (CtC) basis. This is the third deal with this client this year, taking the total committed contract value from the customer to $25.3m in 2022 and highlighting WANdisco’s exceptional product/market fit in the high-growth Internet of Things (IoT) market. Management also confirmed that the company’s pipeline is at record levels and that the business is seeing an acceleration in interest. WANdisco expects to report further progress before year-end so, pending this, we leave our estimates unchanged. However, momentum clearly remains strongly positive.