Wandisco Plc (LON:WAND) $3m contract with a large US health insurer is its largest cloud deal to date. It also gives an encouraging indication of revenue potential of the co-sell relationship with Microsoft (NASDAQ:MSFT). Management reports a growing pipeline and structural growth prospects remain strong, although full-year results will hinge on the timing of large strategic deals under negotiation.
The deal was secured through the co-sell agreement with Microsoft and is the company’s largest cloud deal to date, worth $3m for a three-year subscription, the majority of which will be recognised this year. The client is a major US health insurer who will use Fusion for both on-premise and hybrid cloud use cases, supporting the migration of data to Microsoft’s Azure cloud. Management believes there is an opportunity to grow the subscription as the client expands the deployment of Fusion to cover more architecture/use cases. We also highlight that the five Microsoft deals announced to date have each been into a different vertical market – automotive, banking, semiconductors, automotive and now healthcare – demonstrating the broad applicability of the Fusion technology.
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