Corero Network Security plc (LON:CNS) (OTCQX: DDOSF), the distributed denial of service (“DDoS”) protection specialists, has announced that the Company has made good progress during Q4 2024 to date securing new contracts for its market-leading SmartWall ONETM DDoS protection solutions.
Q4 2024 has seen continued momentum with the addition of new customer mandates and upselling into existing customers across multiple selling regions. These wins further strengthen Corero’s position as a trusted provider to both new and long-standing customers globally.
Total contract value secured Q4 2024 to date is $1.7 million; details of selected orders are summarised below:
· New customer: 3-year contract with a leading Icelandic IT services provider to support their high media tenant profile of national enterprises and government agencies. The architecture solution deployed allows the customer to meet regulatory requirements of in-country traffic treatment, providing a competitive edge over its competition.
· New customer: 1 year contract with an independent agency of the US federal government to provide DDoS protection services to one of its major research centres.
· Existing customer renewal and expansion: 3-year contract with a growing UK-based hosting provider, focussed mainly on the UK and EU markets. This deal extends and expands the existing relationship as Corero continues to support the customer’s growing business infrastructure.
· Existing customer renewal and expansion: 3-year contract with an EU government department to upgrade existing hardware and expand the existing solution to include SecureWatch® Managed Services.
Carl Herberger, Chief Executive Officer at Corero, commented:
“I’m pleased to report that Q4 continues to deliver new sales momentum. We have already delivered both new customer mandates alongside strategic growth within our existing blue chip client base in key global territories.
Our ability to secure new corporate clients, in addition to further strengthening our ties with trusted partners, underscores the confidence our customers place in Corero to protect their critical operations.”
Corero Network Security is a leading provider of DDoS protection solutions, specialising 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 OTCQX market (OTCQX: DDOSF).
