TIDMCNS
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 (R) 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(R) 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(R) 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(R) 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(R) 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(R) 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(R) 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(R) 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 , and follow us on
LinkedIn and Twitter .
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END
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(END) Dow Jones Newswires
July 04, 2023 02:00 ET (06:00 GMT)
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