Last checked at 3 Apr 2024 07:00
3 April 2024
Corero Network Security plc
("Corero" or the "Company")
Significant $2m+ Contract Renewal and Expansion
Material contract to supply DDoS protection infrastructure to global US based SaaS provider
Corero Network Security (AIM: CNS) (OTCQB: DDOSF), the specialists in Distributed Denial of Service ("DDoS") protection solutions, is delighted to announce a significant contract renewal and expansion with a leading US Software-as-a-Service ("SaaS") provider, marking one of the Company's largest single transactions to date (the "Contract").
The Contract, valued at over $2 million over three years, enables Corero to expand the customer's existing DDoS protection infrastructure to support its continued international growth. This Contract further reinforces Corero's strong customer retention track record, alongside highlighting the Company's ability to seamlessly support the global operations of a leading IT Service Management company ("ITSM").
This Contract significantly enhances the customer's DDoS protection infrastructure, ensuring the security and service availability of the SaaS provider's worldwide operations and reinforcing its resilience against the burgeoning range of cyberthreats.
Carl Herberger, Corero Chief Executive Officer, commented:
"This significant Contract renewal and expansion is testament to the trust and confidence that leading global companies continue to place in Corero's DDoS protection solutions.
Not only does the Contract reflect our capability to meet the sophisticated needs of our customers, but it also demonstrates that we are well positioned to capitalise on potential upsell opportunities with existing clients who have already benefitted significantly from our services.
We are committed to providing cutting-edge, reliable DDoS protection solutions to support our customers' growth and operational security and will continue to explore new business and mandate expansion opportunities as we aim to both broaden and strengthen our client portfolio."
Enquiries:
Corero Network Security plc | Tel: +44(0)20 7390 0230 |
Carl Herberger, Chief Executive Officer | |
Phil Richards, Chief Financial Officer | |
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Canaccord Genuity Limited (Nominated Adviser and Broker) | Tel: +44(0)20 7523 8000 |
Simon Bridges / Andrew Potts / Harry Rees | |
Vigo Consulting | Tel: +44(0)20 7390 0230 |
Jeremy Garcia / Kendall Hill | |
corero@vigoconsulting.com |
About Corero Network Security
Corero Network Security is a leading provider of DDoS protection solutions, specializing in automatic detection and protection solutions with network visibility, analytics, and reporting tools. Corero's technology protects against external and internal DDoS threats in complex edge and subscriber environments, ensuring internet service availability. With operational centres in Marlborough, Massachusetts, USA, and Edinburgh, UK, Corero is headquartered in London and listed on the London Stock Exchange's AIM market (ticker: CNS) and the US OTCQB market (OTCQB: DDOSF).
For more information, visit www.corero.com, and follow us on LinkedIn and Twitter.