Last checked at 17 Oct 2023 07:00
17 October 2023
Corero Network Security plc
("Corero", or "the Company")
Significant New DDoS Protection Contract
New Contract Opens High Growth Satellite Service Provider Sector
Corero Network Security plc (AIM: CNS), a leading provider of distributed denial of service ("DDoS") protection solutions, announces it has secured a new contract with a leading global satellite service provider, the first for Corero in the high growth multi-$billion satellite service market, which is forecast to grow at a CAGR of >20% by 20301.
The contract, which has a total value in excess of $500,000, will deliver SmartWall ONE ultra-low latency DDoS protection across a network of globally positioned ground stations, signifying an important strategic milestone from a vertical market expansion perspective.
This contract win will allow Corero to focus on delivering further expansion in this high growth vertical, alongside demonstrating the need for protecting satellite services from DDoS attacks and is expected to drive additional sector opportunities for Corero.
The addition of this new customer, with an extensive presence across Europe, will also further expand Corero's operational footprint in the region.
Jens Montanana, Executive Chairman, commented:
"I am delighted that we have added this significant customer to our growing portfolio of global service providers. Having one of the world's leading satellite service providers working with Corero opens up an additional vertical market for us to target, and further demonstrates the reach, relevance and appeal of Corero's SmartWall ONE product."
Enquiries:
Corero Network Security plc Jens Montanana, Executive Chairman Phil Richards, CFO | Tel: +44 (0) 20 7390 0230 |
Canaccord Genuity Limited (Nominated Adviser and Broker) Simon Bridges / Andrew Potts / Harry Rees | Tel: +44 (0) 20 7523 8000 |
Vigo Consulting Jeremy Garcia / Kendall Hill
| Tel: +44 (0) 20 7390 0230 |
About Corero Network Security
Corero Network Security is a leading provider of distributed denial of service (DDoS) protection solutions. We are specialists in automatic detection and protection solutions, that include network visibility, analytics, and reporting tools. Corero's technology provides scalable protection capabilities against both external DDoS attackers and internal DDoS threats, in even the most complex edge and subscriber environments, ensuring internet service availability and uptime. Corero's key operational centres are in Marlborough, Massachusetts, USA, and Edinburgh, UK, with the Company's headquarters in London, UK. The Company is listed on the London Stock Exchange's AIM market under the ticker CNS.
For more information, visit www.corero.com, and follow us on LinkedIn and Twitter.
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