Software developers WANdisco boost sales after AIM floatation

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Sheffield and Silicon Valley-based software developer WANdisco has boosted sales by more than 50 per cent and is confident of further growth.

The company, which raised $26 million (£16 million) in a significantly oversubscribed floatation on the Alternative Investment Market earlier this year, says it is on track to achieve its targets for the current year and sees increasing opportunities for further growth.

David Richards, Sheffield-born chairman and chief executive of the Electric Works based company, said: “We are extremely pleased with the progress seen in this first half, as is reflected in these results. We laid out clear objectives when we listed on AIM, including sales growth and product expansion.

“I am delighted that we are meeting and exceeding those goals so rapidly following flotation.”

WANdisco says it has become clear in recent weeks that opportunities for using its technology in the “Big Data” market are even grater than previously thought, so it will be focusing more resources on that area.

So far, the company’s technology has mainly been used by large corporations to coordinate the work of software engineers in locations across the world who are simultaneously developing the same software.

Big Data applications include analysing economic trends, combating disease and crime, predicting the weather and complex problems in physics, where the collections of data that are being used are so large that they would be difficult or impossible to store and manipulate locally on desktop computers.

WANdisco also sees a number of potentially significant opportunities opening up following its acquisition of SmartSVN software developed by German software company Syntevo.