Scandal-stricken Wandisco confirms rebrand as bosses eye fresh start
Embattled data firm Wandisco has confirmed it will rebrand as Cirata today as it looks to move on from a major fraud scandal that saw it write off over $100m in bookings earlier this year.
London-listed Wandisco suspended trading on the London Stock Exchange when it was forced to write off over $115m in sales bookings after uncovering “potentially fraudulent irregularities” on its books in March.
The firm has since been on a major turnaround plan and called in tech veteran Stephen Kelly as chief executive to try and steady the ship.
In a statement today, Kelly said it was “time to focus our attention on the future”.
“The rebranding of the Company to Cirata is not just a name change, it is a new start for the Company, and will positively impact every aspect of our business. We are excited to have this opportunity for Cirata to become a global market leader,” he added.
The rebranding of the firm will not alter its business operations or financial framework.
Bosses said the firm’s turnaround was “quickly gaining momentum”.