WANdisco shares up as inks multi-project contract with General Motors

(Alliance News) - WANdisco PLC shares jumped on Wednesday, after it said that it has signed a ...

Alliance News 16 August, 2023 | 7:50AM
Email Form Facebook Twitter LinkedIn RSS

(Alliance News) - WANdisco PLC shares jumped on Wednesday, after it said that it has signed a multi-project contract with General Motors Co.

Shares in the Sheffield, England-based data migration platform were up 7.5% to 87.10 pence each in London early Wednesday. Over the last 12 months, the stock is down 74%.

General Motors has signed a master license agreement with WANdisco as a new customer to move petabyte-scale data to the Microsoft Azure Cloud using WANdisco Data Migrator for Azure.

General Motors is the Detroit, Michigan-based carmaker behind brands such as Cadillac and Chevrolet.

The agreement enables continuous data movement through the use of WANdisco software and services over a number of different use cases to be transacted through the Microsoft Azure Marketplace, WANdisco explained.

The first phase of the relationship sees General Motors committing to moving at least 3.3 petabytes of data with a contract value of over USD400,000.

"The simplified structure of the deal on the Azure Marketplace strongly supports the power of WANdisco's partnership go-to-market model with leading cloud service providers to seamlessly deliver high impact data integration solutions that accelerate business impact," the company said.

By Sophie Rose, Alliance News reporter

Comments and questions to newsroom@alliancenews.com

Copyright 2023 Alliance News Ltd. All Rights Reserved.

Email Form Facebook Twitter LinkedIn RSS

Securities Mentioned in Article

Security Name Price Change (%) Morningstar
Rating
Wandisco PLC 50.00 GBX 9.89 -
General Motors Co 45.21 USD -0.33

About Author

Alliance News

Alliance News provides Morningstar with continuously updating coverage of news affecting listed companies.

© Copyright 2024 Morningstar, Inc. All rights reserved.

Terms of Use        Privacy Policy        Modern Slavery Statement        Cookie Settings        Disclosures