RCS - Corero Network Sec. - Significant New DDoS Protection Contract

Corero Network SecurityAnnouncement

17/10/2023 07:00

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RNS Number : 2829Q  Corero Network Security PLC  17 October 2023

17 October 2023

Corero Network Security plc

("Corero", or "the Company")

 

Significant New DDoS Protection Contract

 

New Contract Opens High Growth Satellite Service Provider Sector

 

Corero Network Security plc (AIM: CNS), a leading provider of distributed
denial of service ("DDoS") protection solutions, announces it has secured a
new contract with a leading global satellite service provider, the first for
Corero in the high growth multi-$billion satellite service market, which is
forecast to grow at a CAGR of >20% by 2030(1).

 

The contract, which has a total value in excess of $500,000, will deliver
SmartWall ONE ultra-low latency DDoS protection across a network of globally
positioned ground stations, signifying an important strategic milestone from a
vertical market expansion perspective.

 

This contract win will allow Corero to focus on delivering further expansion
in this high growth vertical, alongside demonstrating the need for protecting
satellite services from DDoS attacks and is expected to drive additional
sector opportunities for Corero.

 

The addition of this new customer, with an extensive presence across Europe,
will also further expand Corero's operational footprint in the region.

 

Jens Montanana, Executive Chairman, commented:

 

"I am delighted that we have added this significant customer to our growing
portfolio of global service providers. Having one of the world's leading
satellite service providers working with Corero opens up an additional
vertical market for us to target, and further demonstrates the reach,
relevance and appeal of Corero's SmartWall ONE product."

 

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 distributed denial of
service (DDoS) protection solutions. We are specialists in automatic
detection and protection solutions, that include network visibility,
analytics, and reporting tools. Corero's technology provides scalable
protection capabilities against both external DDoS attackers and
internal DDoS threats, in even the most complex edge and subscriber
environments, ensuring internet service availability and uptime. Corero's key
operational centres are in Marlborough, Massachusetts, USA, and Edinburgh,
UK, with the Company's headquarters in London, UK. The Company is listed on
the London Stock Exchange's AIM market under the 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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