18th Jun 2014 07:24
LONDON (Alliance News) - Corero Network Security PLC saw its shares rise Wednesday after it won its largest ever contract win for its product that protects networks and devices from so-called denial-of-service attacks.
In a statement, Corero said the order with an unnamed US financial services company is worth USD500,000. Its products will protect the clients internet-connected infrastructure and websites.
"We are delighted to have secured this significant customer contract which clearly demonstrates the strength of the Corero offering in the financial services industry, an important market opportunity for Corero. We worked in conjunction with a key US reseller partner on securing this deal and we look forward to continued growth in this commercial relationship in the future," Corero Chief Executive Ashley Stephenson said in a statement.
A denial-of-service attack is an attempt to make a device or network unavailable to its intended users. A common method of attack involves saturating the target with external communications requests, so that it cannot respond to legitimate traffic, or responds so slowly as to be rendered useless.
Corero shares were up 11.1% at 25 pence early Wednesday, the second-biggest gain on the AIM All-Share index.
By Steve McGrath; [email protected]; @SteveMcGrath1
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