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WANdisco bags British Gas contract; splits chairman & CEO role

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WANdisco (LON:WAND), the ‘big data’ software specialist, has bagged a contract with utility giant British Gas, which is looking to replace its legacy database technology.

British Gas has chosen WANdisco's non-stop Hadoop technology for Hortonworks to store and manage its business critical data.

Hadoop is an open source software project that enables the distributed processing of large data sets across clusters of servers, often located in different data centres, while Hortonworks is a customised version of this software. WANdisco specialises in replication technology that means updates in one data centre are more or less immediately reflected in all other connected data centres.

"Like so many organizations, British Gas is implementing Big Data to reap the huge benefits of storing and querying massive amounts of data that previously could not be achieved. In the process, British Gas will rid itself of the high cost and limited functionality of traditional enterprise database technology with a new strategy based on Hadoop,” said WANdisco boss, David Richards.

The contract win was announced alongside the company’s full-year results and news that Richards’s dual role as executive chairman and chief executive officer (CEO) will end, with non-executive director Paul Walker taking over as non-executive chairman, while Richards continues as CEO.

WANdisco, which has seen its share price increase more than six-fold since floating in June 2012, saw revenue rise 33% to US$8.01mln in 2013 from US$6.03mln in 2012. Underlying losses (adjusted EBITDA) widened to US$7.83mln from US$3.0mln the previous year.

Shares were up 2.3% at 1,302p in mid-morning trade.

Quick facts: Wandisco PLC

Price: 550 GBX

AIM:WAND
Market: AIM
Market Cap: £265.33 m
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