Corero Network Security PLC (LON:CNS) saw its shares jump over 5% higher today on news it has secured its first SmartWall Threat Defense contract win in the Australian market.
The cyber-security firm, which specialises in preventing distributed denial of service (DDoS) attacks, said the contract is worth more than US$200,000.
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Distributed denial of service attacks entail bombarding a company’s network with input/output requests to the point where response grinds to a halt.
The contract is an expansion of an existing digital enterprise customers deployment of SmartWall; the customer is in the process of rolling out its DDoS mitigation platform to its global locations.
In total, this particular customer has put US$1.3mln of business Corero’s way over the years.
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"Our unique technology addresses the increasing number of digital enterprises seeking always-on real-time DDoS mitigation solutions in response to the rampant growth of commercial and industrial cybercrime,” said Andrew Lloyd, Corero’s president and executive vice president of sales and marketing.
"We are delighted to see SmartWall deployed in a new geography and with an additional new Australian customer win anticipated before the end of the financial year, we look forward to expanding our presence in this market. We expect additional business from this customer in the coming months as it further deploys Corero's SmartWall technology across its global operations," Lloyd added.
In afternoon trading, Corero shares were up 5.6%, or 0.38p 7.12p.
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