RCS - Corero Network Sec. - Significant Q1 2023 Customer Wins

Corero Network SecurityAnnouncement

13/04/2023 07:00

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RNS Number : 0305W  Corero Network Security PLC  13 April 2023

 

13 April 2023

Corero Network Security plc

("Corero", or "the Company")

 

Significant Q1 2023 Customer Wins

 

Corero Network Security plc (AIM: CNS), a leading provider of real-time,
high-performance, automatic Distributed Denial of Service (DDoS) cyber defense
solutions, announces significant orders from both new and existing customers
for its market-leading SmartWall® DDoS protection solutions and services in
Q1 2023 ("the Orders").

 

The Orders, which fall within Corero's ideal customer profile ("ICP"), total
$2.0 million (average value per customer of $380,000) over the course of the
contracts, and are detailed below:

 

·    a US-based cloud computing and services provider, which has deployed
Corero 10Tbps SmartWall Edge Threat Defense software in order to provide DDoS
protection services to its customers. The Corero SmartWall Edge Threat Defense
solution, launched in 2022, provides DDoS protection using the network edge to
detect, redirect or mitigate malicious traffic. The order comprises a
three-year software subscription licence and SecureWatch® services.

 

·    a US-based provider of outsourced IT infrastructure and managed
services. The order comprises multiple SmartWall 10Gbps solutions as well as a
three-year contract for SecureWatch® services to support the company's
expansion both in the US and abroad.

 

·    a US rural-focused provider of internet and telephony services to
business and residential customers. The order comprises multiple SmartWall
100Gbps solutions to support the company's geographic expansion, in addition
to a supporting three-year contract for SecureWatch® services.

 

·    a US regional-focused provider of internet and telephony services to
business and residential customers. The order comprises a three-year DDoS
Protection as a Service agreement, including multiple SmartWall 100Gbps
solutions.

 

·    a leading international online gaming company. The order comprises
multiple SmartWall 10Gbps solutions to support the company's expansion, as
well as a three-year contract for SecureWatch® services.

 

Jens Montanana, Executive Chairman, commented:

 

"We are pleased to have delivered a number of key customer wins in Q1 2023
which reinforce our growing reputation as a leading provider of cutting-edge
DDoS cybersecurity solutions.

 

"We have renewed our focus on Corero's ICP with a more targeted sales and
marketing approach to ultimately drive revenue growth.  We look forward to
building on this new business momentum across the year as we continue to
explore opportunities to expand our customer base."

 

 

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 mitigation 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 centers 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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