WANdisco shareholders approved a company name change to Cirata during its Annual General Meeting on August 30.
Earlier this year, the live data replicator faced challenges when it revealed in a filing that an unidentified senior sales representative had misrepresented financial reports. This was followed by the resignation of the chairman, CEO, and CFO, layoffs, a forensic accounting investigation, a stock market suspension, and appointments of an interim chair, CFO, and CEO. Following this, there was an emergency capital raise which facilitated the company’s re-entry to AIM, the UK junior stock market and initiated a comprehensive reassessment of its product and market strategy.
CEO Stephen Kelly said: “It’s time to focus our collective attention on the future and do everything we can to help drive the growth plan forward. Renaming and rebranding the Company is one step in that journey and we’re excited to build Cirata into a category leader.”
A Cirata statement said: “The company felt the time was right to be renamed as part of a broad and extensive rebranding program that best reflects the updated company vision, values and future growth plans. The new name is intended to provide a new and positive canvas where the company can build positive brand equity going forward.
“Cirata is a combination of ‘cirrus cloud’ and ‘data’ and the name enables the Company to continue to pursue market opportunities in the data integration space under a new name and brand identity. The Company intends to transition into the new brand identity and integrate the new name in Q4.”
On its newly launched website, Cirata highlights its belief that “the combination of powerful cloud computing and analytics techniques such as AI applied to massive data sets will provide game changing data modernization and monetization opportunities over the coming decades.”
Cirata aims to focus the Data Migrator product set on replicating active data from its generation at edge computing sites up into the public clouds and public cloud-based analytics data warehouses and lakes, such as Snowflake and Databricks. It will also work as an edge-to-datacenter replicator for on-premises-based analytics and processing.
Farewell, WANdisco. You screwed up, big time, and the rebrand marks a welcome new beginning.