REG - Corero Network Sec. - Significant $2m+ Contract Renewal and Expansion

Corero Network SecurityAnnouncement

03/04/2024 07:00

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RNS Number : 0455J  Corero Network Security PLC  03 April 2024

3 April 2024

 

Corero Network Security plc

("Corero" or the "Company")

 

Significant $2m+ Contract Renewal and Expansion

 

Material contract to supply DDoS protection infrastructure to global US based
SaaS provider

 

Corero Network Security (AIM: CNS) (OTCQB: DDOSF), the specialists in
Distributed Denial of Service ("DDoS") protection solutions, is delighted to
announce a significant contract renewal and expansion with a leading US
Software-as-a-Service ("SaaS") provider, marking one of the Company's largest
single transactions to date (the "Contract").

 

The Contract, valued at over $2 million over three years, enables Corero to
expand the customer's existing DDoS protection infrastructure to support its
continued international growth. This Contract further reinforces Corero's
strong customer retention track record, alongside highlighting the Company's
ability to seamlessly support the global operations of a leading IT Service
Management company ("ITSM").

 

This Contract significantly enhances the customer's DDoS protection
infrastructure, ensuring the security and service availability of the SaaS
provider's worldwide operations and reinforcing its resilience against the
burgeoning range of cyberthreats.

 

Carl Herberger, Corero Chief Executive Officer, commented:

 

"This significant Contract renewal and expansion is testament to the trust and
confidence that leading global companies continue to place in Corero's DDoS
protection solutions.

 

Not only does the Contract reflect our capability to meet the sophisticated
needs of our customers, but it also demonstrates that we are well positioned
to capitalise on potential upsell opportunities with existing clients who have
already benefitted significantly from our services.

 

We are committed to providing cutting-edge, reliable DDoS protection solutions
to support our customers' growth and operational security and will continue to
explore new business and mandate expansion opportunities as we aim to both
broaden and strengthen our client portfolio."

 

 

Enquiries:

 

 Corero Network Security plc                                   Tel: +44(0)20 7390 0230
 Carl Herberger, Chief Executive Officer
 Phil Richards, Chief Financial Officer

 Canaccord Genuity Limited (Nominated Adviser and Broker)      Tel: +44(0)20 7523 8000
 Simon Bridges / Andrew Potts / Harry Rees

 Vigo Consulting                                               Tel: +44(0)20 7390 0230
 Jeremy Garcia / Kendall Hill
 corero@vigoconsulting.com (mailto:corero@vigoconsulting.com)

 

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)
and the US OTCQB market (OTCQB: DDOSF).

 

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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