Proactive Investors - Run By Investors For Investors

Corero jumps as it secures largest DDPaaS contract to date

The order, which protects against distributed denial-of-service (DDoS) attacks, was with a new customer and would involve the use of Corero’s SmartWall for a period of three years
DDoS attack
A DDoS attack involves flooding a computer system with data, causing it to shut down

Corero Network Security PLC (LON:CNS) shares jumped in late-morning Tuesday after it announced the largest contract to date for its DDoS Protection as a Service (DDPaaS) product and unveiled three new orders totalling US$1.6mln.

The DDPaaS order, which protects against distributed denial-of-service (DDoS) attacks, was with a new customer and would involve the use of Corero’s SmartWall protection products on the customers 100Gbps infrastructure for a period of three years.

WATCH: Corero sees record order intake in second half of 2018

The other orders included an expansion of the group’s SmartWall 10Gbps solutions from an existing software-as-a-service (SaaS) customer, as well as a supporting three-year contract for its SecureWatch service that monitors the SmartWall.

The final order was a renewal for Corero’s Support and SecureWatch services from a hosting provider, the third consecutive annual renewal, which would involve continual monitoring of the customer’s own SmartWall installation.

Ashley Stephenson, chief executive of Corero, said the new orders demonstrated “continued demand” for the company’s SmartWall product, “growing demand” for its DDoS protection services, and “ongoing repeat demand” for its SecureWatch offering.

Stephenson added that the firm had made “a positive start to 2019”, having reported a record order intake in the second half of its last financial year.

Shares were up 2.7% at 9.5p.

--Adds share price--

View full CNS profile View Profile

Corero Network Security PLC Timeline

Newswire
April 11 2019

Related Articles

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
lock
October 18 2018
Managed services revenue jumped 52% in the first half of 2018 with the order book standing at £2.4mln.
1543399827_shutterstock_130609865.jpg
November 07 2018
it aims to become one of the leading firms within the health benefits industry in Canada and to launch in the US and globally

© 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