Proactive Investors - Run By Investors For Investors

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%.

View full CNS profile View Profile

Corero Network Security PLC Timeline

April 11 2019

Related Articles

IoT graphic
March 01 2019
The company is an investor and operator of technology companies with innovative IoT, AI and Blockchain solutions
mobile payment
June 22 2018
MySQUAR wants to beef up the mobile payments side of its operations in anticipation of a surge in demand for those services in a country where only 20% of the adult population have a bank account
Apollo 11
March 04 2019
The online student market especially will be perfectly suited to the immersion and remote aspects of VR

© 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