Corero Network Security PLC Corero secures second $1m+ SmartWall customer (3371F)

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: [phone] 
                                                                     382 
 
     Cenkos Securities plc                                 Tel: [phone] 
                                                                    8900 
     Bobbie Hilliam - NOMAD 
      Alex Aylen - Corporate Broking 
 
     Redleaf Communications                                Tel: [phone] 
                                                                    4747 
     Rebecca Sanders-Hewett/David Ison/Elise           [e-mail] 
      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

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May 17, 2017 02:00 ET (06:00 GMT)