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Corero signs two new customers, renews with a third

By Josh White

Date: Monday 02 Dec 2019

Corero signs two new customers, renews with a third

(Sharecast News) - Network security company Corero Network Security announced orders from two new customers for its 'SmartWall DDoS Protection-as-a-Service' (DDPaaS) solution on Monday, as well as a DDPaaS expansion order from an existing customer, totaling more than $1.1m over the course of the contracts.
The AIM-traded company said the first new customer contract was its largest DDPaaS order to-date, and was with an unnamed US-based hosting and cloud services provider.

It said the three-year contract would see the firm deliver a hybrid DDoS protection service, integrating on-premises protection with 'SmartWall' 10Gbps appliances and a new Corero cloud DDoS protection service.

The new customer contract was the first resulting from a recent partnership with a leading cloud DDoS service provider, Corero said.

It added that the second new customer DDPaaS contract - a three year contract - was with a growing UK-based hosting and cloud services provider, which was also unnamed.

Finally, the existing customer three-year expansion order was from an unidentified Asia-Pacific based hosting and cloud services provider, which would deploy the Corero solution at a number of its global data centre sites.

The board said the deployment of the solutions would enable the customers to provide DDoS-protected services to their end-customers, which Corero described as an "important part" of their respective offerings, given the threat of and growth in DDoS attacks.

"Within a month of launching the service, we have secured the inaugural contract for our new hybrid DDoS protection solution, which combines Corero's market leading real-time SmartWall DDoS protection with coordinated automatic cloud back-up protection, enabling our customers to defend against even the largest of DDoS attacks," said chief executive officer Ashley Stephenson.

"At the same time, we continue to see strong growth in add-on business from our existing customers as their DDoS protection requirements increase."

At 1545 GMT, shares in Corero Network Security were up 8.29% at 3.79p.


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