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Corero rises as it secures over US$1mln in orders from three customers

The orders include an expansion of the firm's SmartWall technology as well as an order for its DDoS protection as a service product
Computer security
The firm's technology provides protection against distributed denial of service (DDoS) attacks

Shares in Corero Network Security PLC (LON:CNS) were on the rise in early trading Wednesday after it secured orders from three customers for its security services and technology totalling over US$1mln.

The network security firm said the orders included a US$500,000 expansion order for its SmartWall 100Gbps technology from an existing customer, a US$300,000 DDoS protection as a service (DDPaaS) order with a global hosting and colocation provider, and a US$200,000 renewal of support and SecureWatch managed security services contract.

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

The SmartWall expansion order is for one year, while the DDPaaS contract is for three years and will cover data centres in the US, Australia, and Asia.

The SecureWatch renewal is the fourth consecutive year for the customer and will see Corero provide support for the clients SmartWall installation, which provides always-on real-time DDoS mitigation.

A DDoS attack is where the perpetrator seeks to make a machine or network unavailable to users by disrupting services of a host connected to the Internet.

Andrew Lloyd, Corero’s president and executive vice-president of sales & marketing, said the wins were “demonstrative of the increasing traction” of its DDoS mitigation solutions, particularly its 100Gbps SmartWall tech as “the adoption of faster and more economic 100Gbps links accelerates”.

The contracts follow two orders worth US$1mln in October when the group provided customers with the SmartWall system and said it expected more orders in the final quarter of 2018.

Shares were up 5.4% at 12.7p.

--Adds share price--

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Corero Network Security PLC Timeline

April 11 2019

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