Corero Network Security PLC Customer Wins (6268H)
14 March 2018 - 6:00PM
UK Regulatory
TIDMCNS
RNS Number : 6268H
Corero Network Security PLC
14 March 2018
14 March 2018
Corero Network Security plc
("Corero" or the "Company")
Customer Wins
Digital Enterprise Customer Orders Worth $0.9 Million
Corero Network Security plc (AIM: CNS), the global network
security company, is pleased to announce two orders for its
SmartWall(R) Threat Defense System ("SmartWall") technology with a
combined value of $0.9 million (with additional incremental orders
expected in 2018).
These wins include a customer order which, as reported in the
Trading Update dated 21 December 2017, was delayed to 2018, and a
new customer win. Key highlights include:
-- $0.5 million new customer win from a market leading UK based
multi-brand media company following a successful proof of concept
trial. The order includes multiple SmartWall products, with
supporting SecureWatch services for three years.
-- $0.4 million for an existing customer's ongoing deployment,
which includes multiple SmartWall products with supporting
SecureWatch(R) services for three years. Further additional
material orders are expected in 2018 as part of the customer's
global expansion and SmartWall deployment plan.
With the surge in commercial and industrial cybercrime, DDoS
attacks of all sizes are rapidly increasing. Consequently, Corero's
target market has expanded beyond service providers to include
digital enterprises seeking real-time DDoS protection. Corero's
SmartWall has been proven to excel in environments where businesses
demand zero downtime and mitigation in seconds. Traditional
technology and techniques can take longer to respond, which
inevitably results in downtime or degraded performance and the
secondary risks of breach and malware.
New cyber security regulatory requirements such as the European
Network Information Security ('NIS') Directive, General Data
Protection Regulation and the revised Payment Services Directive
('PSD2') feature severe penalties. These regulations are driving
companies to invest in appropriate cyber security defences, such as
Corero's Smartwall solution, to reduce their compliance risk,.
Andrew Lloyd, Corero President and EVP Sales and Marketing,
said:
"We are delighted to have secured two significant pieces of
business, further demonstrating that Corero's technology is
providing an increasing number of digital enterprises with
real-time DDoS mitigation solutions in response to the rampant
growth of commercial and industrial cybercrime.
"We are steadily building a strong pipeline of new business
opportunities and believe the recent escalation in DDoS attacks
globally will continue underpin this demand."
Enquiries:
Corero Network Security plc
Andrew Miller, CFO Tel: 01895 876
382
Cenkos Securities plc Tel: 020 7397
8900
Mark Connelly / Bobbie Hilliam - NOMAD
Michael Johnson - Sales
Vigo Communications Tel: 020 7830
9703
Jeremy Garcia / Ben Simons / Emma
Lord
corero@vigocomms.com
About Corero Network Security
Corero Network Security is the 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
This information is provided by RNS
The company news service from the London Stock Exchange
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