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Corero lands two new orders and expects more to come in 2018

The order from a new customer consists of multiple SmartWall 100Gbps products with supporting SecureWatch services for one year

Computer hacker
The Corero SmartWall solution mitigates DDoS attacks in real-time

Recovery play Corero Network Security PLC (LON:CNS) was on the rise again on Tuesday after announcing two orders worth US$1.0mln.

The company received a U$600,000 order for its 100 gigabytes per second (Gbps) SmartWall Threat Defense System technology from a global cloud security company and a U$400,000 follow-up order for Corero’s 10Gbps SmartWall technology from an existing customer.

READ: Corero Network Security is turning things around

Further orders are anticipated from both customers in the final quarter of 2018 as part of their ongoing expansion and SmartWall deployment plans.

"To have secured another new customer for our 100Gbps SmartWall technology following a rigorous selection process is particularly pleasing and highlights the key competitive advantages and uniqueness of our solution. We look forward to expanding our relationship with this customer as they deploy additional 100Gbps connectivity, which we expect will require additional SmartWall purchases,” said Andrew Lloyd, Corero president and executive vice president of sales and marketing.

"We anticipate demand for our technology to accelerate as we benefit from the combination of growth in adoption of faster 100Gbps links coupled with increasing end-user service-level expectations, resulting in the requirement for service providers, cloud providers and enterprises to instigate a DDoS [distributed denial of service] protection upgrade," he added.

Shares in Corero were up 5% at 11.5p in the first hour of trading. Since the end of 2017, the shares are up 70%.

Quick facts: Corero Network Security PLC

Price: 3.3 GBX

AIM:CNS
Market: AIM
Market Cap: £13.27 m
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Corero Network Security bags significant new wins and contract renewals

Andrew Lloyd, president of Corero Network Security PLC (LON:CNS), tells Proactive they've secured several new orders for their cybersecurity technologies to the tune of US$1.2mln. Lloyd says the orders include two for their SmartWall Threat Defense technology with a cloud-based web...

on 3/4/18

2 min read