Significant Q1 2023 Customer Wins

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 Jens Montanana, Executive Chairman Phil Richards, CFO	Tel: [phone]
Canaccord Genuity Limited (Nominated Adviser and Broker) Simon Bridges / Andrew Potts / Harry Rees	Tel: [phone]
Vigo Consulting Jeremy Garcia / Kendall Hill	Tel: [phone]

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 , and follow us on  LinkedIn   and  Twitter .

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