Corero Network wins new contract with Everstream Solutions

(Alliance News) - Corero Network Security PLC on Wednesday announced it has won a new contract with Everstream Solutions LLC, a provider of fibre connectivity services for businesses across Ohio and the Midwest US.

Corero Network Security is a London-based cybersecurity firm which specialises in distributed denial of service protection.

Corero secured the contract through a competitive tender process, in which it demonstrated a strong understanding of the Everstream model and offered Everstream the ability to not only enhance its service but generate its own revenue stream by providing Corero's SmartWall ONE solution to its customers.

Corero has also secured the three-year renewal of a contract with a distributed denial of service cloud scrubbing provider. This unnamed company will use Corero's technology to support its protection services worldwide.

The combined value of the two contracts is USD800,000.

Chief Executive Officer Carl Herbeger said: "We are delighted to partner with Everstream at an exciting time for both companies. We have worked closely with the Everstream team to understand their requirements and build a curated solution that elevated us above our competition and will deliver significant value for the customer.

"Securing another key customer renewal for an additional three years is further evidence of our robust customer retention capabilities and reaffirms the market-leading position of our SmartWall ONE technology."

Shares in Corero were down 0.6% at 19.14 pence each in London on Wednesday afternoon.

By Emily Parsons, Alliance News reporter

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