Corero Network Security PLC Significant Contract Win (6789Q)
September 14 2017 - 2:01AM
UK Regulatory
TIDMCNS
RNS Number : 6789Q
Corero Network Security PLC
14 September 2017
14 September 2017
Corero Network Security plc
("Corero" or the "Company")
Significant contract win with world leading digital
enterprise
Corero Network Security plc (AIM: CNS), the AIM listed network
security company, is pleased to announce that its SmartWall(R)
Threat Defense System ("SmartWall") technology has been selected by
a leading digital enterprise to protect its on-line presence
against DDoS attacks.
The $0.2 million initial order is part of an expected $1.5
million global deployment over the next few quarters, one of our
largest contract wins to date, to provide DDoS mitigation for the
customer's core communication and IT infrastructure.
The customer is one of the world's leading pharmaceutical
companies operating globally.
With the growing surge in commercial and industrial cybercrime
and the damage that can be caused during short duration DDoS
attacks which are increasingly being used as a smokescreen for
breach and malware attacks, Corero's target market for its scalable
SmartWall solution is expanding beyond service providers and
hosting providers to include increasing numbers of digital
enterprises seeking always-on DDoS mitigation technologies.
Corero's SmartWall has been proven to excel in these demanding
environments; mitigating in seconds in contrast to traditional
approaches which can take tens of minutes to respond.
Andrew Lloyd, President and EVP Sales & Marketing of Corero,
said:
"The demand from digital enterprises for real-time DDoS
mitigation solutions is being driven by the increasing number and
severity of DDoS attacks and the growing awareness of the threat of
cyber attacks brought about by high profile attacks such as the
crippling DDoS attack on Dyn in 2016 and recent WannaCry ransomware
attacks. In addition, new cyber security regulatory requirements
such as the European Network Information Security (NIS) Directive,
General Data Protection Regulation and the revised Payment Services
Directive (PSD2) are requiring companies invest in appropriate
cyber security defences.
"We look forward to growing our relationship with this
significant customer."
The information communicated in this announcement is inside
information for the purposes of Article 7 of Regulation
596/2014.
Enquiries:
Corero Network Security plc
Andrew Miller, CFO Tel: 01895 876
382
Cenkos Securities plc Tel: 020 7397
8900
Bobbie Hilliam - NOMAD
Alex Aylen - Corporate Broking
Redleaf Communications Tel: 020 7382
4747
David Ison/Elisabeth Cowell/Ian cns@redleafpr.com
Silvera
About Corero Network Security
Corero Network Security is the leader in real-time,
high-performance DDoS defense solutions. Service providers, hosting
providers and online enterprises rely on Corero's award winning
technology to eliminate the DDoS threat to their environment
through automatic attack detection and mitigation, coupled with
complete network visibility, analytics and reporting. This
next-generation technology provides a First Line of Defense(R)
against DDoS attacks in the most complex environments while
enabling a more cost effective economic model than previously
available. For more information, visit www.corero.com
This information is provided by RNS
The company news service from the London Stock Exchange
END
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