WANdisco has rebranded to Cirata plc as it attempts to put a fraud scandal behind it.
Shareholders at the company’s annual general meeting approved the name change, with 61% in favour of the resolution.
Earlier this year it was revealed that a senior sales employee had falsified purchase orders, leading to a suspension in trading in its shares at the end of March.
The Sheffield company, which also has a HQ in California, then raised $30 million in emergency funding from existing investors as the end of its funding runway heaved into view.
High-profile tech executive Stephen Kelly, former CEO of Sage, was confirmed as CEO following the departure of founder Dave Richards, with former Blue Prism figure Ijoma Maluza joining as CFO and the non-executive board also shaken up. Trading in its shares has since resumed.
“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,” WANdisco stated.
“The new name is intended to provide a new and positive canvas where the company can build positive brand equity going forward.”
It explained that Cirata is a combination of ‘cirrus cloud’ and ‘data’.
Despite cutting around a third of its workforce as part of a restructuring plan, it has secured a multi-project contract with US giant General Motors, parent company of car brands including Cadillac and Chevrolet.
“It’s time to focus our collective attention on the future and do everything we can to help drive the growth plan forward,” said Kelly. “Renaming and rebranding the company is one step in that journey and we’re excited to build Cirata into a category leader.”