Update on Order Intake

RNS Number : 1376I

Corero Network Security PLC

10 December 2020

 

10 December 2020

Corero Network Security plc

("Corero" or the "Company")

Update on Order Intake

Progress towards strategic goals with recent customer orders of over $3m

Corero Network Security plc (AIM: CNS), a leading provider of real-time, high-performance, automatic Distributed Denial of Service (DDoS) defense solutions , announces that it continues to make further progress towards its strategic goals of international expansion, development of its strategic and business partnerships and further penetration of Tier 1 and major accounts. This positive progression is reflected in the associated order intake of more than $3 million in the first two months of the final quarter of 2020. Revenues associated with these orders will be recognised over the course of the lifetime of each of the contracts.

Customer orders in the two months to end November include:

· A Tier 1 UK telecoms and communications provider for a SmartWall TDS solution with supporting SecureWatch® services for a three year period, sold by Corero, through a UK partner.

· A Tier 1 Asian communications provider for a 1Tbps SmartWall TDD solution over three years through our partnership with Juniper.

· An order for a major worldwide gaming company for multiple SmartWall TDS (including 100Gbps) solutions with supporting SecureWatch services for a three year period, sold by Corero, through a UK partner. 

· An Australian Co-Location, Cloud and IP transit service provider with a three year DDoS Protection as-a-service (DDPaaS) order. The DDPaaS order is for several SmartWall TDS solutions with supporting SecureWatch services. 

· A Southern US broadband network provider for several SmartWall TDS solutions with supporting SecureWatch services for one year.

· A Vietnam-based IT service provider for a one year TDD solution delivered through our partnership with Juniper.

The deployment of these Corero SmartWall and SecureWatch solutions will enable these customers to provide high performance and cost effective DDoS protection services to their end-user customers.

Lionel Chmilewsky, Corero's CEO, said:

"Recent order intake not only reflects the significance of DDoS mitigation but also underlines the importance of broadening our global sales footprint alongside further penetration into Tier 1 and major corporate customers. " It is also pleasing to see our SmartWall and SecureWatch platform solutions being deployed in new geographies through our relationships with our strategic and business partners."

Enquiries:

Corero Network Security plc
Lionel Chmilewsky, Chief Executive Officer Neil Pritchard, Group Finance Director		Tel: [phone]
Cenkos Securities plc		Tel: [phone]
Ben Jeynes - Corporate Finance Alex Pollen - Sales
Vigo Communications		Tel: [phone]
Jeremy Garcia / Antonia Pollock [e-mail]

About Corero Network Security

Corero Network Security plc, is a global leader in real-time, high-performance, automatic DDoS defense solutions. Both Service and Hosting providers, alongside digital enterprises across the globe rely on Corero's award winning cybersecurity technology to eliminate the threat of Distributed Denial of Service (DDoS) to their digital environment through automatic attack detection and mitigation, coupled with network visibility, analytics and reporting. Corero's industry leading SmartWall and SecureWatch technology provides scalable protection capabilities against external DDoS attackers and internal DDoS botnets in the most complex edge and subscriber environments, while enabling a more cost-effective economic model than previously available. Corero's key operational centers located in Marlborough, Massachusetts, USA and Edinburgh, UK, with the Company's headquarters in Amersham, UK. The Company is also listed on the London Stock Exchange's AIM market under the ticker CNS.  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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