Corero Network Security Wins Two Software Orders Worth USD900,000

LONDON (Alliance News) - Corero Network Security PLC said Wednesday it had received two orders for its digital security software worth a combined USD900,000 set to begin in 2018.

Corero received one new order for its SmartWall Threat Defense System as well as a customer order which had been delayed to 2018, as originally announced in late December.

The new order is worth USD500,000 over three years and is from a "market leading UK based multi-brand media company". The order came after a successful proof of concept trial.

A further USD400,000 order came from an existing customer and also runs for three years. Further additional orders are expected from this customers in 2018 as part of its "global expansion."

"We are delighted to have secured two significant pieces of business, further demonstrating that Corero's technology is providing an increasing number of digital enterprises with real-time DDoS mitigation solutions in response to the rampant growth of commercial and industrial cybercrime," Corero President Andrew Lloyd said.

"We are steadily building a strong pipeline of new business opportunities and believe the recent escalation in DDoS attacks globally will continue underpin this demand", Lloyd added.

In late December, Corero forecast it would generate between USD8.5 million and USD9.0 million in revenue in 2017, compared to USD8.8 million the prior year.

Shares in Corero were 0.4% lower at 5.60 pence on Wednesday.