Troubled technology firm WANdisco has completed a rebrand after a major crisis linked to a potential fraud.
The Sheffield firm had to temporarily suspend its trading of its shares and cut around a third of its staff after the discovery of significant “irregularities” surrounding one senior salesperson and their received purchase orders, related revenue and bookings. The issue was thought to total around £12m.
New management was brought in at the firm and now it has confirmed that it will from later this week be called Cirata plc, with a change to its ticker on the London Stock Exchange. Shareholders had approved the change at the end of August.
The company said the “time was right” for a rebranding and that “with Cirata as a new canvas, we are creating a sharper and more compelling vision for the company”. It said the company’s turnaround was gaining momentum and the new name reflected its transformation.
CEO Stephen Kelly said: “This is the 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.”
Original artice – https://business-live.co.uk/all-about/yorkshire-humber