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
|
|
|
|
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
|
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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.