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Corero Network receives US$2mln investment from Juniper

The investment follows deal last month for US firm to resell Corero's DDOS protection software
Ethernet wires
Juniper is big in internet network equipment

Corero Network Security PLC (LON:CNS) is to receive a US$2mln investment from US internet hardware giant US Juniper Networks.

The investment follows on from an agreement signed between the two companies last month for Juniper to resell and support Corero's SmartWall cybersecurity software products and services.  

READ: Corero Network Security earnings loss halves in half-year as SmartWall revenue surges

Corero said the cash would give it more headroom to meet its objective of becoming cash generating and EBITDA profitable during 2019. Juniper provides the routing infrastructure for some of the world's largest IP networks and cloud data centres.

The California-based company will pay a subscription price of 8.9p each for its shares, which will amount to a 4.23% stake in Corero. 

Ashley Stephenson, Corero’s chief executive, said the investment underlined its belief SmartWall products are a critical component in securing IT networks from DDoS attacks.

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Corero Network Security PLC Timeline

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April 11 2019

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