WANdisco - Acquisition speeds-up Big Data Entrance

WANdisco Acquisition speeds-up Big Data Entrance In a move to enhance and accelerate its ability to develop new products in the Big Data market, WANdisco has acquired AltoStor, a Silicon Valley based software company with deep expertise in the Big Data market, for a total consideration of $5.1 million. We now expect the provider of global collaboration software to launch its first Enterprise ready Big Data product in H1 FY2013 (we initially anticipated that this will happen in H1 FY2014), and have amended our forecasts accordingly. With the lucrative Big Data market representing a significant, long-term growth opportunity for the company (Wikibon estimates that the Big Data market will grow to more than $50 billion by 2017), our recommendation remains as speculative buy. Click to Download Full Report Table: Financial overview Year to 31st Dec. 2010A 2011A 2012E 2013E Bookings ($000) 2,986 4,619 7,900 12,000 Revenue ($000) 2,984 3,878 5,100 7,330 EBITDA* ($000) (0.828) 0.150 (2,865) (1,368) PBT* ($000) (1,156) (0.044) (4,784) (3,992) Dividend (cents) 0.0 0.0 0.0 0.0 Source: GECR and company Notes: * Adjusted for exceptional items and share-based payments Speculative Buy Target price 546p Key data Share Price 452.50p 52 week high/low 454.75p / 199.00p Primary exchange AIM EPIC WAND Shares in issue 21.33m Market Cap £96.51m Sector Technology Affiliations: None. Important: All disclaimer information can be found on the last page of the document

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