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WANdisco jumps on contract win with leading Chinese IT firm

The AIM 100 group said the US$1mln deal represented the expansion of an existing relationship with a key client and that the revenue would be recurring in nature
Data servers
The contract is for the firm's Source Code Management product

Shares in software firm WANdisco PLC (LON:WAND) jumped in mid-morning trading Monday as it clinched a contract for its Source Code Management product with a leading Chinese IT and communications provider.

The AIM 100 group said the US$1mln deal represented the expansion of an existing relationship with a key client and that the revenue would be recurring in nature.

WATCH: WANdisco Plc CEO says the future for companies is moving data from on premise to cloud

David Richards, chief executive and chairman of WANdisco, said the Chinese market was “a significant untapped opportunity” for the firm, with the ability to retain and expand key customer relationships illustrating the critical nature of its products as their opportunity in China expanded.

Shares were up 4.6% at 408p.



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