IBM International Business Machines Corp

By Oliver Griffin

WANdisco PLC (WAND.LN) shares rose Tuesday after the company said that it launched a new joint engineered solution with International Business Machines Corp. (IBM) to support relational database technology, significantly expanding its potential market.

The company said the joint solution is the first time it has supported relational database technology, which builds on existing Hadoop solutions to include applications based on SQL--a language used in programming and designed to manage data--and private cloud.

WANdisco said its relationship with IBM strengthened significantly in 2018. The company increased its royalty percentage to 50% and also agreed a guaranteed annual royalty commitment.

The company said new customers with IBM were secured in insurance, banking, telecommunications and with the U.S. government.

WANdisco said on Dec. 27 it won a three-year contract through IBM with a major American-managed health-care company, with an approximate value of $700,000 in royalties.

Shares at 0814 GMT were up 4.3% at 532 pence.

Write to Oliver Griffin at oliver.griffin@dowjones.com; @OliGGriffin

(END) Dow Jones Newswires

January 08, 2019 03:35 ET (08:35 GMT)

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