Coro Energy Share Discussion Threads

[cocker] 04/5/2011 13:19

All pointing in the right direction where as share price heading in the other.

[cocker] 04/5/2011 07:36

2 rns in two days all of which are pointing in the right direction. Are we entering a prosperous new era as shareholders?

[spurious] 19/4/2011 11:27

Interesting insight. Looks like they are busy in a positive way
Regards
Patrick

[25october1969] 18/4/2011 12:25

Hot off the press!

Corero sets out Top Layer channel ambitions


Alex Scroxton
April 18, 2011 11:50 AM

Ahead of this week's Infosec show, buy-and-build security outfit Corero, the new owner of IPS and DDOS solutions vendor Top Layer, has been setting out its ambitions in the channel after signing distie VADition for the UK market.

Corero swooped on Top Layer in a £9.4m deal at the start of February in the first an anticipated series of acquisitions.

Corero sales vice president Andre Stewart told MicroScope he hoped to back into other companies in the IPS space that were, for whatever reason, having "difficulty executing".

He confirmed Corero is in talks with at least two other vendors, and though he was unable to name names, said the next deal was likely to materialise towards the end of 2011. For now, said Stewart, the emphasis is more on the integration of the Top Layer business.

In channel terms, Corero has already been chasing resellers of other recently-acquired security vendors such as McAfee and TippingPoint, now owned respectively by Intel and, through its acquisition of 3Com, HP.

Said Stewart: "In the past month we've moved about eight McAfee and Tipping Point partners over to Top Layer worldwide. Niche security vendors aren't particularly interested in selling HP or Intel because the margins disappear.

"We're going for a two tier strategy, and we want to be able to give high margins to a few very focused and valuable partners," he continued.

"Top Layer had some direct sales and some sales to VARs, and it was frankly a bit of a mess. We're trying to clean that up.

"The history of Top Layer is that they had a lot of money invested, some great products and some great references, including BT and Vodafone among others, but they pulled back because they couldn't execute effectively. They had no marketing and we're just now starting to invest in it," Stewart explained.

Corero is hoping to bring on board between five and 18 dealers to address the UK market, and is open to the possibility of appointing a second distributor within the next 12 months.

[romeo] 09/4/2011 15:59

Here is a copy of the presentation given to analysts:

[cocker] 08/4/2011 20:25

Just read in my local newspaper that all 4 secondary schools in my town have applied for academy status & i guess that maybe the case around the country.If only we had been left with the resource side we shareholders would be sitting pretty for now, instead of relying on what might be.

[gac141] 07/4/2011 10:14

Great ideas, Great market waiting on the others......

[magpie99] 06/4/2011 21:27

Great company, great management and grrrrreeaat future!

[gac141] 06/4/2011 16:19

Notice the rush to buy the shares after analyst presentation. The management have plenty to do to convince me of keeping my shares. Some great ideas let's see if they come to anything?

[cocker] 29/3/2011 21:33

For years the finacial side of the business had been a constant drain on resources & I for one questioned PW on why we could not either sell it or get shot of it. He belived that it was only a matter of time before we shareholders would see significant rewards for our patience. How wrong he was!. If only we could have kept the resource side we shareholders would be far better off than what we are now. It seems as if shareholder dilution has occured & is likely do do so in the future. The recent share options are another two fingered guesture @ shareholders & for me suggest that this bunch are probably no better the last bunch of to---rs. Patricks 85p end of year target seems even harder to achieve as every month passes us by. So having looked into my crystal ball I shall predict a share price of below 40p by year end with Bernard Snow still owning his small handful of shares.

[emily bronte] 23/3/2011 11:24

A rant from TW on JPJShare.com - what do shareholders think of the option grant?

[cocker] 23/3/2011 07:34

Options granted that are not performance related!. Sounds about right to me.

[romeo] 20/3/2011 02:34

The company has a clearly-defined strategy - now it comes down to execution. The new management team has a track record of success. They will have to prove themselves once again.

Color me cautiously optimistic!

[orange1] 18/3/2011 10:50

Yes spurious must like eating a lot of jam along with bottles of meths!

[cocker] 18/3/2011 10:46

Not a single post on results day & the 20th highest riser of the day as I type. Having read through them my self I can probably see why!.

[cocker] 11/3/2011 13:12

Results to be realeased on RED NOSE DAY, could this be significant?

[enormouswillie] 07/3/2011 21:30

and i was thinkin to myself this could be heaven or this could be hell

[rambutan2] 03/3/2011 15:43

Will need to sort out buyers for the overhang as Loudwater is winding up and needs cash asap to return to investors...

Further to the announcement on 10 February 2011 regarding the proposed sale of Top Layer Networks, Inc., to AIM listed Corero plc ("Corero"), Loudwater Trust Limited, the closed-ended investment company, is pleased to announce that the sale has now completed.

Loudwater now owns 4,399,891 Corero shares, representing 9.25% of Corero, which are subject to a 12 month lock-in. In addition, Loudwater received Corero loan notes with a value of $2.7 million and cash of $1.7 million.

Further announcements on the return of cash proceeds to shareholders will be made in due course.

[25october1969] 21/2/2011 14:52

Buy-and-build outfit Corero plans to snap up more small security vendors that have failed to "break through the glass ceiling" as it begins courting the UK channel.

Four channel stalwarts, including Datatec founder Jens Montanana, took a majority stake in AIM-listed Corero last August and this month tabled a $15.3m (£9.54m) bid for intrusion prevention vendor Top Layer.

The other three investors are former Logicalis chief operating officer Andrew Miller and ex-Fortinet executives Andre Stewart and Stephen Turner.

Miller said Corero will use Top Layer as a platform to construct a channel-focused network security vendor with a global presence.

It will also continue to develop Corero's traditional software business, which focuses on the UK education market and has a turnover of about £3m.

Corero will still have $10m in cash to play with after the Top Layer acquisition closes on 2 March, but plans to use its own shares in future deals. Miller highlighted next-generation firewalls as a market it would expand into through acquisition.

"A number of small firms have not been able to break through the glass ceiling of $10m to 15m revenues," he said.

"We will make further acquisitions. The areas we are looking at are secure web and email gateways and virtual private networks."

Top Layer draws 70 per cent of sales from the US.

"The UK and Europe - that is where we see the opportunity," said Miller.

"We will be talking to cha­­n­nel partners and are targeting small
specialist dist­ri­butors and rese­llers such as VADition."

Barrie Desmond, business development director of VADition, confirmed the duo were in dialogue.

"It could almost provide a triage service for us," he said. "Instead of having 20 meetings with vendors we would only have to have two."

Bruce Hockin, head of business strategy at Barracuda distributor Avnet, said: "It's always interesting to see new players enter the market and I'm sure the channel will be keen to see how the new organisation will integrate Top Layer's skills and technology. Avnet have witnessed strong growth in the IPS market in recent months with Sourcefire, and this technology area continues to be a great market for the channel in invest in and grow with."

[cocker] 18/2/2011 16:44

Still sticking by your year end target of 85p Patrick?. As a gentleman I will allow you one more chance to change your mind.
I'll go for 25p & thats me being optimistic.

[gac141] 15/2/2011 17:07

Very pleased to see Jens ownes such a significant stake in our futures. He for one will want to make this work out. Much better than the pitiful amounts people like JM and IS and even PW owned.

[cocker] 07/2/2011 19:09

A very long wait for the expected news which the market has not reacted to at all. I guess time will tell whether the takeover is a sucess or not. As for Peter Waller, it was obvious that he would either step down or be shown the door. I have always found him to be very pleasant & helpful although a bit of a spin merchant. I do believe that he had our best interest @ heart but was often blinded with what was going on around him. JM being the prime example. His leadership seemed limp @ times & perhaps his departure is in our best interest.

[orange1] 07/2/2011 08:39

Corero is now effectively being taken over by a small, loss-making US company.
Something to get excited about? We shall see.

Meanwhile, there is no logic whatsoever in having a software education business and a network security company co-habiting under the same roof. Can't be long now before the Education business is sold off to raise cash for loss-making Top Layer.