leadf
logo-loader
viewCorero Network Security PLC
(
AIM:CNS
)

Corero feeling like a million bucks after latest order

A US-based international web site hosting services provider has "re-upped" and is now the second US$1mln+ customer for Corero's flagship Smartwall product

Bank notes
Recurring revenue from the contract now exceeds US$500k a year

The US web hosting firm that signed up for Corero Network Security PLC’s (LON:CNS) Smartwall Threat Defense System last year has placed a new order.

The additional order (in March 2016) was for US$700,000, while the latest one is for US$500,000, which means the unnamed top 10-ranked web site hosting outfit becomes Corero’s second six-figure SmartWall customer.

Corero said the contract also generates recurring revenue, and this now exceeds US$500,000 a year.

SIGN UP to the Proactive Investors newsletter

Corero is a market leader in the field of preventing distributed denial of service (DDoS) attacks, where one or more malevolent agencies bombard a company's web site or network with requests, with the intention of causing a kind of cyber gridlock.

The latest order provides additional DDoS mitigation capacity for the customer with more than one terabit of SmartWall DDoS mitigation capacity.

"We are delighted to see strong demand from existing hosting and service provider customers for additional DDoS mitigation capacity, a trend we expect to see continue in our service provider and hosting provider target markets,” said Ashley Stephenson, chief executive officer of Corero.

“These purchases validate both the efficacy of our SmartWall product and the DDoS protection revenue boost enjoyed by many of these customers," he added.

Shares in Corero have had a good week following the “wannacry” ransomware virus attack, and made further progress this morning, rising 2.7% to 8.99p.

SIGN UP to the Proactive Investors newsletter

Quick facts: Corero Network Security PLC

Follow
AIM:CNS

Price: 10.61 GBX

Market Cap: £52.5 m

Add related topics to MyProactive

Create your account: sign up and get ahead on news and events

NO INVESTMENT ADVICE

The Company is a publisher. You understand and agree that no content published on the Site constitutes a recommendation that any particular security, portfolio of securities, transaction, or investment strategy is...

In exchange for publishing services rendered by the Company on behalf of named herein, including the promotion by the Company of in any Content on the Site, the Company receives from said issuer annual cash...

FOR OUR FULL DISCLAIMER CLICK HERE

Chmilewsky says Corero Network Security has the right platform to take on...

Lionel Chmilewsky has been the chief executive of Corero Network Security (LON:CNS) for just over a year now and the recent half year figures show a record performance and underline ongoing strategic progress. The company provides real-time, high-performance, automatic Distributed Denial of...

on 22/7/21

2 min read