2nd Apr 2020 12:06
(Alliance News) - Corero Network Security PLC on Thursday said it secured an additional USD2 million of customer wins in March from new and existing customers.
Shares in the cyber security firm were up 19% at 4.28 pence in London shortly before midday.
The new customer contracts are with "a US regional service provider of internet and telephony services" and "the Japanese subsidiary of one of the world's leading on-line brands" and are for Corero's SmartWall DDoS protection product. Both orders are for a three-year period and financial details were not disclosed.
Additional orders include one with "a US regional service provider", which has doubled its capacity with a three-year agreement for additional SmartWall solutions and services, taking the total contract value to more than USD750,000.
Another additional order from an existing customer comes from "a European based regional service provider offering internet, networking, and security services " and yet anther is from "a global cloud security provider". "A leading US-based hosting provider" also renewed its contract with Corero.
Corero will release its final results for 2019 on Monday next week.
Chief Executive Ashley Stephenson said: "To have delivered a record first quarter order intake demonstrates the ongoing value our SmartWall solutions bring to both existing customers and new customers. In addition, it highlights the positive impact our direct sales and channel partnership activities are having across the business, which is also reflected in our strong pipeline for the rest of the first half of 2020."
By Anna Farley; [email protected]
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