Corero Network Security PLC Corero secures second $1m+ SmartWall customer (3371F)
May 17 2017 - 1:00AM
UK Regulatory
TIDMCNS
RNS Number : 3371F
Corero Network Security PLC
17 May 2017
17 May 2017
Corero Network Security plc
("Corero" or the "Company")
Corero secures second $1m+ SmartWall customer
Corero Network Security plc (AIM: CNS), the AIM listed network
security company, is pleased to announce an additional order of
$0.5m for its SmartWall(R) Threat Defense System ("SmartWall") from
the US-based international hosting provider that initially placed
an order of $0.7m in March 2016. With this latest order, the top
10-ranked provider becomes Corero's second $1m+ SmartWall
customer.
The order provides additional DDoS mitigation capacity for this
growing customer with over one Terabit of SmartWall DDoS mitigation
capacity.
In addition to the one time purchase amount of $0.5 million, the
recurring revenue from this contract now exceeds $0.5 million per
annum.
Corero's target market for its scalable SmartWall solution
includes service providers and hosting providers, whose businesses
are seeing strong growth from increased Internet connectivity and
Cloud infrastructure demands from their customers. This in turn
drives demand for incremental DDoS protection.
Ashley Stephenson, CEO of Corero, said:
"We are delighted to see strong demand from existing hosting and
service provider customers for additional DDoS mitigation capacity,
a trend we expect to see continue in our service provider and
hosting provider target markets. These purchases validate both the
efficacy of our SmartWall product and the DDoS protection revenue
boost enjoyed by many of these customers."
Enquiries:
Corero Network Security plc
Andrew Miller, CFO Tel: 01895 876
382
Cenkos Securities plc Tel: 020 7397
8900
Bobbie Hilliam - NOMAD
Alex Aylen - Corporate Broking
Redleaf Communications Tel: 020 7382
4747
Rebecca Sanders-Hewett/David Ison/Elise cns@redleafpr.com
Palmer
About Corero Network Security
Corero Network Security is the leader in real-time,
high-performance DDoS defense solutions. Service providers, hosting
providers and online enterprises rely on Corero's award winning
technology to eliminate the DDoS threat to their environment
through automatic attack detection and mitigation, coupled with
complete network visibility, analytics and reporting. This
next-generation technology provides a First Line of Defense(R)
against DDoS attacks in the most complex environments while
enabling a more cost effective economic model than previously
available. For more information, visit www.corero.com
This information is provided by RNS
The company news service from the London Stock Exchange
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