Contracts secured worth over $1.1 million

RNS Number : 2288V

Corero Network Security PLC

02 December 2019

 

2 December 2019

Corero Network Security plc

("Corero" or the "Company")

Contracts secured worth over $1.1 million

including largest DDoS Protection as a Service order

Corero Network Security plc (AIM: CNS), the network security company, announces orders from two new customers for its SmartWall DDoS Protection as a Service ("DDPaaS") solution as well as a DDPaaS expansion order from an existing customer, totaling over $1.1 million over the course of the contracts.

The first new customer contract is the Company's largest DDPaaS order to-date and is with a US-based hosting and cloud services provider. This three year DDPaaS contract will see Corero deliver a hybrid DDoS protection service integrating on-premises protection with SmartWall® 10Gbps appliances and a new Corero cloud DDoS protection service. This new customer contract is the first resulting from a recent partnership with a leading cloud DDoS service provider.

The second new customer DDPaaS contract, a three year contract, is with a growing UK-based hosting and cloud services provider.

Finally, the existing customer three year expansion order is from an Asia Pacific based hosting and cloud services provider who will deploy the Corero solution at a number of its global data centre sites.

The deployment of these solutions will enable these customers to provide DDoS protected services to their end-customers, an important part of their respective offerings given the threat of and growth in DDoS attacks.

Ashley Stephenson, Corero CEO, said:

"Within a month of launching the service, we have secured the inaugural contract for our new hybrid DDoS protection solution, which combines Corero's market leading real-time SmartWall DDoS protection with coordinated automatic cloud back-up protection, enabling our customers to defend against even the largest of DDoS attacks. At the same time, we continue to see strong growth in add-on business from our existing customers as their DDoS protection requirements increase."

Enquiries:

Corero Network Security plc
Andrew Miller, CFO		Tel: [phone]
Cenkos Securities plc		Tel: [phone]
Ben Jeynes / Mark Connelly - NOMAD Michael Johnson - Sales
Vigo Communications		Tel: [phone]
Jeremy Garcia / Ben Simons /Antonia Pollock [e-mail]

About Corero Network Security

Corero Network Security is a leader in real-time, high-performance DDoS defense solutions. Service providers, hosting providers and digital enterprises rely on Corero's award winning technology to eliminate the DDoS threat to their environment through automatic attack detection and mitigation, coupled with complete network visibility, analytics and reporting. This industry leading technology provides cost effective, scalable protection capabilities against DDoS attacks in the most complex environments while enabling a more cost effective economic model than previously available. For more information, visit www.corero.com

The information contained within this announcement was deemed to constitute inside information as stipulated under the Market Abuse Regulation (EU) No. 596/2014 prior to release of this announcement. Upon the publication of this announcement, this inside information is now considered to be in the public domain.

 

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