Director's dealing

RNS Number : 1721U

Corero Network Security PLC

21 December 2012

 



Corero Network Security plc

("Corero" or the "Company")

Director's dealing

Corero Network Security plc (AIM: CNS), the network security and business software provider, was notified today that Mr Jens Montanana, non-executive chairman of the Company, purchased 75,000 ordinary shares of 1p each in the Company ("Ordinary Shares") at a price of 34 pence per Ordinary Share today.

Following the purchase, Mr Montanana is interested in 15,943,687 Ordinary Shares, representing 27.33 per cent. of the current issued share capital of the Company.

Enquiries:

Corero Network Security plc
Andrew Miller, Group Chief Operating Officer		Tel: [phone]
FinnCap
Stuart Andrews / Henrik Persson		Tel: [phone]
Walbrook PR		Tel: [phone]
Bob Huxford / Helen Westaway (Media Relations)
Paul Cornelius (Investor Relations)

About Corero Network Security plc

Corero Network Security plc consists of two businesses: Corero Network Security and Corero Business Systems.

Corero Network Security is an international network security company and the leading provider of next generation securitysolutions. Deployed as a First Line of Defense (FLoD) solution, Corero's products and services sit outside of a client's network, effectively stopping unwanted traffic (including Distributed Denial of Service ("DDoS") cyber-attacks) from reaching and overwhelming firewalls and other infrastructure components, such that good customer traffic can flow unimpeded.

The need for such a solution is rapidly increasing as organisations rely ever more upon the Internet to streamline their businesses and improve revenue growth. The huge growth in online sales has created an explosion of cyber-attack entrepreneurs looking to cash in on the burgeoning digital marketplace.

Research published by the Ponemon Institute found that occurrences of cyber-attacks is mounting with a 42 per cent increase in the number of cyber-attacks, with the average annualized cost of cybercrime incurred by a benchmark sample of U.S. organisations of $8.9 million. It noted that organisations experienced an average of 102 successful attacks per week, compared to 72 attacks per week in 2011. It cited DDoS as a common attack type and one of the most costly cybercrimes.

The ever increasing number of attacks is driving forecast growth in the DDoS protection market to more than double in size to $450 million by 2015 (Infonetics Research). With the number of successful attacks on the rise it is evident that existing firewall, intrusion prevention systems, and traditional security infrastructure are not equipped to combat them. These technologies were not built to stop many of today's attacks and are being overwhelmed by DDoS attacks, advanced evasion attacks, server side exploits and other unwanted traffic.

Corero's First Line of Defence solution utilizes sophisticated techniques and technologies to block malicious traffic to stop DDoS and other advanced cyber-attacks before they enter an organisation's IT infrastructure.  This industry best practice is helping customers worldwide, including enterprises, service providers and government organisations, safeguard their IT infrastructure and eliminate downtime, ultimately protecting their bottom line.

Corero Business Systems is a leading provider of powerful and dynamic modular accounting, human resources, payroll and management information software to the schools (including academies) and further education and commercial sectors in the UK and internationally.  Corero has a strong background and pedigree in education having been involved in the sector since the early 1990's.

Corero's proprietary software solution "Resource" is at the core of the Corero suite of business applications:

•     Resource Financials & HR - a finance and HR management solution delivering web-enabled and workflow controlled business processes.

•     Resource EMS - a student record and learner management information solution for the post 16 education sector.

The Resource software solutions are designed to deliver key business benefits to customers including:

•     Resource Financials & HR - flexible reporting in real time; control of budgets and spending; cash flow forecasting; reduction of data processing costs and the use/handling of paper.

•     Resource EMS - streamlined management of the whole learner administration process from enquiry to enrolment to completion and leaving; enhanced curriculum planning and examination management tools; full management of statutory returns.

Corero Resource Financials & HR software won The UK Business Software Industry Software Satisfaction Awards 2012 in the category of Accounting & Finance (corporate). The Software Satisfaction Awards are unique in that they are decided by end-user views, representing a wide cross-section of businesses from sole traders and SMEs through to government and corporate bodies, with the 2012 survey being completed by over 10,000 organisations.

 

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