Proactive Investors - Run By Investors For Investors

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.

View full CNS profile View Profile

Corero Network Security PLC Timeline

April 11 2019

Related Articles

April 15 2019
Corero Network Security PLC specialises in cyber-security software
Internet address bar
February 15 2019
In a February trading update, the firm said it had delivered a “strong” performance in 2018 with revenues for the year expected to be around £42.5mln compared to £24.3mln the year before
Mobile payments
February 15 2019
The firm works with tech giants such as Google, Amazon, and Microsoft to help them process payments from their mobile customers across their app stores

© Proactive Investors 2019

Proactive Investors Australia PTY LTD ACN:132787654 ABN:19132787654.

Market Indices, Commodities and Regulatory News Headlines copyright © Morningstar. Data delayed 15 minutes unless otherwise indicated. Terms of use