RCS - Corero Network Sec. - Significant Q2 2023 Customer Wins

Corero Network SecurityAnnouncement

04/07/2023 07:00

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RNS Number : 8319E  Corero Network Security PLC  04 July 2023

 

4 July 2023

Corero Network Security plc

("Corero", or "the Company")

 

Significant Q2 2023 customer wins

Total value $6.0 million

 

Corero Network Security plc (AIM: CNS), a leading provider of distributed
denial of service ("DDoS") protection solutions, announces significant order
momentum from both new and existing customers for its market-leading
SmartWall® DDoS protection solutions and services across Q2 2023 ("the
Orders"). A separate update on trading for the six months ended 30 June 2023
will follow later in the month.

 

The following Orders, which total $6.0 million (average value per customer of
$597,000) over the course of the contracts, are summarised below:

 

·    New customer - a market-leading global Cloud DDoS Protection service
provider. This new customer seven-figure order, Corero's single largest
software order to date, is for the Corero SmartWall Edge Threat Defense
software solution to support the company's expansion strategy.

 

·    New customer - a fast-growing North American regional provider of
managed services and network connectivity. This new customer was looking to
minimise the operational burden of managing DDoS incidents and drive revenue
growth through security service offerings. The order comprises the full Corero
solution suite, including SmartWall DDoS protection, SmartWall Service Portal
software, and SecureWatch® services.

 

·    New customer - a North America regional provider of internet, digital
TV, and phone services. This new customer needed a solution to protect their
infrastructure against DDoS attacks and the ability to sell DDoS protection
services to their customer base. The order comprises the full Corero solution
suite, including SmartWall DDoS protection, SmartWall Service Portal software,
and SecureWatch® services.

 

·    Expansion customer - a global cloud computing service provider. This
existing customer order is for expansion of their SmartWall Threat Defense
Director software solution.  This order, sold through the Juniper strategic
relationship, represents Corero's largest order to date through the Juniper
relationship.

 

·    Expansion customer - a global SaaS provider. This existing customer
seven-figure order comprises SmartWall DDoS protection and SecureWatch®
support services for the company's continued international expansion.

 

·    Expansion customer - a UK web hosting provider focused on delivering
exceptional customer service. This existing customer order comprises a renewal
and expansion of their SmartWall DDoS protection solution and the SmartWall
Service Portal software.

 

·    Expansion customer - a North American service provider delivering
data, video, and phone services. This existing customer order comprises
additional SmartWall DDoS protection solutions and SecureWatch® services to
support the company's growth.

 

·    Expansion customer - a North American service provider to the
education sector. This existing customer order comprises a renewal and upgrade
of their SmartWall DDoS protection solution and SecureWatch® services.

 

·    Renewal customer - a UK developer and provider of entertainment
gaming. This existing customer order comprises a renewal of their SmartWall
DDoS protection solution and SecureWatch® services.

 

·    Renewal customer - a North American regional provider of voice,
video, and data services. This existing customer order comprises a renewal of
their SmartWall DDoS protection solution and SecureWatch® services.

 

Jens Montanana, Executive Chairman, commented:

 

"We are pleased to report strong customer momentum across Q2, including two of
Corero's largest software subscription license sales to date. These key
customer wins add to our growing recurring revenue base.

 

"Our enhanced business momentum gives us confidence for the second half of the
year as we expand our routes to market."

 

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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