Sheffield data activation platform WANdisco has signed a follow-on agreement worth £6.3m with a major European automotive components supplier.
WANdisco entered into an initial commit-to-consume contract with the client earlier this year, with the contract valued at a minimum of £4.4m over five years.
In a statement, WANdisco said: “Terms were originally signed to replicate automobile sensor data to the Amazon Web Services cloud. However, initial data to be transferred exceeds the volume of data agreed in the original contract. As a result, WANdisco has entered into the follow-on contract with the terms of the contract providing that 50 per cent of the aggregated $12.1m (£10.65m) will be paid in advance.
“The client expects to see its data needs grow further over the lifetime of the contract, as an increasing number of vehicles incorporate their sensors from which data is collected representing a potentially significant expansion opportunity for WANdisco.”
WANdisco recently reported a 74 per cent revenue hike for the six months to June 30. Charman and CEO David Richards said: “These evolving and growing data needs both in automotive and across multiple sectors give us confidence in the further significant opportunities for our business as we look to build and execute on a strong pipeline of future deals.”
