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Corero Network Security wins US contract for cyber security technology

Corero Network Security has received a US$0.3mln order for its SmartWall Defence System in the US
Demand for cyber security is on the rise following a wave of attacks

Corero Network Security PLC (LON:CNS) has won another contract in the US for its cyber security product, the SmartWall Defence System, in the wake of a global malware attack.

The company said it has received a US$0.3mln order for the technology, which protects customers from distributed denial of service (DDos) attacks and cyber threats, from a leading US regional services provider.

WATCH: Corero Network Security cements position in US with another contract win

Corero will deliver real-time DDoS detection and mitigation for the undisclosed provider's transit and peering connections.

"This additional customer win reinforces our claim that SmartWall is a leading DDoS mitigation solution designed to meet the needs of service providers,” said Corero’s chief executive Ashley Stephenson.

“We look forward to growing our commercial relationship with this provider as it expands its customer base."

In afternoon trading, Corero shares were up 1,4%, or 0.12p at 9.00p. 

The SmartWall Threat Defense System is a cyber security technology designed for cloud, hosting and internet services providers.

Last week the company also announced that it had landed a US$0.4mln contract for the product to protect a high profile US federal government agency.

The contract wins come after a widespread malware attack last week, which disrupted business across the world.  The so-called “Petya” ransomware infected computers at the likes of WPP, French construction materials company Saint-Gobain and Russian steel and oil firms Evraz and Rosneft. The attack, which was first reported in Ukraine, demanded a Bitcoin ransom worth US$300 to unlock computers.

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Corero Network Security PLC Timeline

April 11 2019

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