RCS - Corero Network Sec. - Significant Customer Momentum

Corero Network SecurityAnnouncement

02/10/2023 07:00

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RNS Number : 2445O  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                                 Tel: +44 (0) 20 7390 0230

 Jens Montanana, Executive Chairman

 Phil Richards, CFO
                                                             Tel: +44 (0) 20 7523 8000

 Canaccord Genuity Limited (Nominated Adviser and Broker)

 Simon Bridges / Andrew Potts / Harry Rees
                                                             Tel: +44 (0) 20 7390 0230

 Vigo Consulting

 Jeremy Garcia / Kendall Hill

 

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 (http://www.corero.com) , and
follow us on LinkedIn (https://www.linkedin.com/company/corero/)
 and Twitter (https://twitter.com/Corero) .

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