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Corero Network Security PLC wins European contract

More good news for the cyber security firm, whose shares are up almost three-fifths this year

Cyber-security
Corero Network Security is the leader in real-time, high-performance DDoS defence solutions

Cyber-defence specialist Corero Network Security PLC (LON:CNS) has bagged the first significant order for its SmartWall Threat Defense System from a European hosting provider.

The order, worth more than $200,000, follows a successful proof of concept trial during which Corero was able to demonstrate the effectiveness of automatic, in-line, real-time distributed denial of service (DDoS) protection.

A DDOS attack is when malevolent agencies bombard a company's web site or network with requests with the intention of causing a kind of cyber gridlock.

Corero said its latest customer is one of the leading regional European hosting providers and the solution it is taking comprises multiple Corero SmartWall TDS products, with supporting SecureWatch services for three years, which will enable the customer to not only protect its infrastructure from DDoS attacks but to also offer DDoS “Protection as a Service” to its growing customer base.

"The demand in the global hosting provider market for automatic, in-line, real time DDoS protection represents a significant opportunity for SmartWall TDS. This contract builds on our recent hosting provider success in the US,” said Ashley Stephenson, chief executive officer of Corero.

Shares in Corero, up 58% year-to-date, were little changed. 

Quick facts: Corero Network Security PLC

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AIM:CNS

Price: 10.61 GBX

Market Cap: £52.5 m

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