Corero Network Security (LON:CNS), a specialist in cyber threat blocking, continues to expand its offering, with the launch of a beta version of its latest software monitoring solution.
Cloud-based Corero SmartWall Network Threat Defense - Virtual Edition (vNTD Monitor) can be deployed against any server or network and monitors so-called DDos (distributed denial of service) events.
The idea is it will lead to increased demand for the company's flagship SmartWall Threat Defense System mitigation tool.
It comes following the announcement recently of two landmark cyber contracts struck with tier-one internet service providers (ISPs). Corero's chief executive sees hundreds of further opportunities for new business.
The group specialises in providing what's called real-time distributed denial of service solutions, which block web attacks that aim to bring down sites by bombarding them with internet traffic.
Such attacks can be highly damaging financially, not to mention, reputation-wise, so companies are keen to be bang up to date on providing the latest protection.
The hacking of telecoms group TalkTalk (LON:TALK) last year was but one high profile case in point.
The Corero deals, with a combined value of over US$1mln, are for the provision of SmartWall technology to a tier one ISP in Europe and, announced last month, one with a US web hosting giant.
Speaking to Proactive Investors on January 6, chief executive Ashley Stephenson said he was very optimistic about the outlook for 2016 based on these two wins.
"It will create somewhat of a halo around our technology allowing others to follow these leaders in their decisions about purchases (of cyber protection", he suggested, adding he believed the two wins were indicative of hundreds of further contracts across Europe alone.
"I don't think any business is immune from the threat of cyber-attacks these days so we expect a growing opportunity for the security companies in general.."
"Cyber security respects no national boundaries so we see just as sophisticated attacks in Europe as we do in the US," he added.
Tier-one companies are generally the largest internet providers in a particular region and as such there are only a few of them around the globe so these wins represent a real step change for Corero and a huge validation for the technology.
The firm specialises in Ddos attacks – a space, which Stephenson said last year was “hot and only getting hotter”.
“It is a durable space for the next five years.
“It is busy and people are coming into the space. But the area we are interested in, DDoS, is still relatively sparsely populated.
“There are only a few companies like us that can do what we can do. It is a limited competitive field, so we don’t feel like there is a major threat,” he said.
House broker FinnCap noted last month that following a successful fund raise, well received interims, and a flow of contract wins, Corero was gathering momentum.
The market also hailed the news on January 6, with shares adding almost 14% to stand at 18.75p.
The last months have certainly signalled a change of pace. It has won a significant order, worth over US$400,000, for its SmartWall Threat Defense System (TDS) from a US web site hosting company.
This was the group's largest single hosting provider deployment and followed a successful proof of concept (POC) trial during which the company was able to demonstrate the effectiveness of its technology.