LONDON (Reuters) - WANdisco PLC, which ensures companies can access vital applications and data through crises like data centre failures, signed a partnership on Thursday with Hortonworks, which provides software on which many such applications are written.
Its Chief Executive David Richards said London-listed WANdisco's business in "big data" - the ability to store, manage and curate massive amounts of information - was already growing quickly and the Hortonworks tie-up would give it a boost.
WANdisco provides continuous-availability software to companies like banks and telecom groups, helping them make use of data stored remotely in various different locations on "Cloud" servers, so it will survive any unexpected outage or crisis.
Hortonworks develops and distributes Apache Hadoop, an open-source software framework, supported by companies including Microsoft and SAP. Many major banks create vital business and trading applications using the software.
The partnership will allow these clients better to safeguard new "big data" application created on Apache Hadoop.
"It's a game-changer for us, in which the way we go to market in the big data space is becoming the de facto continuous availability solution," Richards said in an interview on Thursday.
WANdisco, which listed in London last year rather than in the United States, where most tech companies launch initial public offerings, raised 19 million pounds ($31 million) in a placing of 2 million new shares at 950 pence each on Thursday to help fund its growth.
Demand for the new shares was strong, with the order book closing in just a few hours, and WANdisco said the offer attracted a mixture of existing and new investors.
Panmure Gordon's Fred Walsh, lead banker on the placing, said: "It shows there's a market there to support these growth companies. To do a deal like that for a small cap in that quick time is a great testament to the company and its products."
Shares in the company, which have more than trebled in the last 12 months, were down 3.8 percent at 980 pence after the placing on Thursday.
(Reporting by Paul Sandle; Editing by Anthony Barker)
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