Significant Customer Momentum

Corero Network Security PLC

02 October 2023

 

2 October 2023

Corero Network Security plc

("Corero", or "the Company")

Strong Start to H2 2023 Driven by Significant Customer Momentum

Corero generates c.$2 million of orders in Q3 2023

Corero Network Security plc (AIM: CNS), a leading provider of distributed denial of service ("DDoS") protection solutions, announces a number of significant orders from both new and existing customers signed during Q3 2023 for its market-leading SmartWall® DDoS protection solutions ("Orders").

The following Orders, which total approximately $2 million (average value per customer of $481,000) over the course of the contracts, are summarised below:

·    New customer: a US-based provider of communication technologies and services. This new customer needed a solution to protect its infrastructure against DDoS attacks alongside the ability to sell DDoS protection services to its customer base. The order comprises the full Corero solution suite, including SmartWall DDoS protection, SmartWall Service Portal software, and SecureWatch® services.

·    Contract expansion: a North America regional provider of internet and phone services. This existing customer's new three-year DDoS protection as a service order comprises SmartWall DDoS protection solutions and SecureWatch® services.

·    Contract expansion: a leading service provider delivering data and communication services across the Caribbean, Central America, and Asia Pacific. This existing customer's new three-year DDoS protection as a service order comprises SmartWall DDoS protection solutions and SecureWatch® services. 

·    New customer: a communication service provider within the Southern Asian region. This order followed a successful Proof of Concept and strong commercial business case. The order comprises SmartWall DDoS protection solutions for 500Gbps of traffic throughout the region.

Jens Montanana, Executive Chairman, commented:

"We are pleased to have secured these important customer wins and report a strong start to our second half of the year. We are continuing to build upon the momentum gained during the first six months of 2023 as demonstrated by these recent successes. "

Enquiries:

Corero Network Security plc Jens Montanana, Executive Chairman Phil Richards, CFO	Tel: [phone]
Canaccord Genuity Limited (Nominated Adviser and Broker) Simon Bridges / Andrew Potts / Harry Rees	Tel: [phone]
Vigo Consulting Jeremy Garcia / Kendall Hill	Tel: [phone]

About Corero Network Security

Corero Network Security is a leading provider of DDoS protection solutions, specializing in automatic detection and protection solutions with network visibility, analytics, and reporting tools. Corero's technology protects against external and internal DDoS threats in complex edge and subscriber environments, ensuring internet service availability. With operational centres in Marlborough, Massachusetts, USA, and Edinburgh, UK, Corero is headquartered in London and listed on the London Stock Exchange's AIM market (ticker: CNS).

For more information, visit www.corero.com, and follow us on LinkedIn and Twitter.

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