Wandisco PLC (AIM:WAND) said it has secured two contract renewals with major global organisations which are expected to deliver US$1.5mln in revenue over the next five years.
The first contract was agreed with BMW to continue a multi-year license agreement, the data activation platform said in a statement.
BMW has been a customer since 2016 and will continue to utilise WANdisco’s SVN MulitSite, which is its source code management software solution. WANdsco said its technology is “critical” to the German car manufacturer’s software engineering infrastructure.
Secondly, Maxim Integrated, which is a subsidiary of Analog Devices, has signed a five-year subscription license renewal to continue using SVN MultiSite.
Maxim designs, manufactures, and sells analogue and mixed-signal integrated circuits for the automotive, industrial, communications, consumer, and computing markets, and has been a customer since 2018.
WANdisco said Maxim relies on it to ensure its global operations remain uninterrupted and has increased its usage of SVN MultiSite by over 50% since 2018.
Of the US$1.5mln in revenue, it is expected US$1mln will be recognised this current financial year, US$200,000 in the next financial year and US$100,000 in the final three years.