There is more to this than just technology hype. WANdisco has signed some
blue-chip clients such as Nokia, Cisco and Apple. They also announced in May
that they had poached Paul Harrison from FTSE 100-listed Sage to take over
as chief financial officer. It seems unlikely that such a well-respected
name in technology would jump ship without good reason.

Questor is always wary of technology stories; 2001 lives long in the memory
and brokers estimate WANdisco will not make a profit until after 2014.
However, the client list and addition of an experienced CFO to the board
make this an interesting proposition. The results announcement on September
26 will provide a better picture of how things are developing, and whether
cash collection is matching the winning of new business. So with shares at
record highs it’s a hold until then.