$2 million of additional customer wins secured
2 April 2020
Corero Network Security plc
("Corero" or the "Company")
$2 million of additional customer wins secured in March
Record first quarter order intake
Corero Network Security plc (AIM: CNS) announces new customer wins for its SmartWall DDoS protection product including a new Juniper customer, additional purchases from existing customers, a large Support and SecureWatch security services contract renewal , and continued momentum from the relationship with GTT Communications, totaling $2 million over the course of the contracts.
The new customer contracts, both of which are for a period of three years, are as follows:
· a US regional service provider of internet and telephony services, for a DDoS protection as-a-service ("DDPaaS") contract incorporating multiple SmartWall TDS 100Gbps solutions with supporting SecureWatch® services; and
· the Japanese subsidiary of one of the world's leading on-line brands, for a software subscription for the Juniper 10Tbps SmartWall TDD solution.
The deployment of these SmartWall solutions will enable these customers to provide DDoS protected services to their end-user customers, which is an important part of their respective offerings given the increasing threat of and growth in DDoS attacks.
The additional orders from existing Corero customers include:
· a US regional service provider doubling its capacity with a new three-year DDPaaS agreement for additional SmartWall TDS 100Gbps solutions and services, with the total contract value increasing to over $750,000 - Corero's largest DDPaaS deployment to date;
· a European based regional service provider offering internet, networking, and security services for a three-year DDPaaS agreement, to support additional capacity requirements, incorporating multiple SmartWall TDS 10Gbps solutions with supporting SecureWatch® services; and
· a global cloud security provider who will deploy SmartWall TDS 10Gbps products at a number of additional sites with a supporting three-year contract for SecureWatch® services, in order to ensure it is protected from DDoS attacks as the business continues to grow.
Corero also received a material services contract renewal from a leading US-based hosting provider, representing its fourth consecutive annual renewal. The agreement will see Corero continue to supply support and SecureWatch managed security services for the customer's global SmartWall TDS installation, which provides real-time DDoS mitigation.
As previously announced, Corero will be releasing audited final results for the year ended 31 December 2019 on the Monday 6 April 2020.
Ashley Stephenson, Corero CEO, said:
"To have delivered a record first quarter order intake demonstrates the ongoing value our SmartWall solutions bring to both existing customers and new customers. In addition, it highlights the positive impact our direct sales and channel partnership activities are having across the business, which is also reflected in our strong pipeline for the rest of the first half of 2020."
Enquiries:
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Corero Network Security plc |
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Andrew Miller, CFO |
Tel: 01895 876 382 |
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Cenkos Securities plc |
Tel: 020 7397 8900 |
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Ben Jeynes / Mark Connelly - NOMAD Michael Johnson - Sales |
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Vigo Communications |
Tel: 020 7390 0230 |
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Jeremy Garcia / Ben Simons / Antonia Pollock |
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About Corero Network Security
Corero Network Security is a leader in real-time, high-performance DDoS defense solutions. Service providers, hosting providers and digital 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 industry leading technology provides cost effective, scalable protection capabilities 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
The information contained within this announcement was deemed to constitute inside information as stipulated under the Market Abuse Regulation (EU) No. 596/2014 prior to release of this announcement. Upon the publication of this announcement, this inside information is now considered to be in the public domain.
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