Corero hails record first quarter with $2m customers wins
y (AIM: CNS ) has had a record first quarter for order intake, having secured US$2m worth of additional customer wins in March 2020.
The AIM-listed cybersecurity group said the new customer contracts for its SmartWall DDoS protection product will run over a period of three years.
The customers wins include a new customer won through its relationship with US corporation, Juniper Networks, as well as additional purchases from existing customers.
"To have delivered a record first quarter order intake demonstrates the ongoing value our SmartWall solutions bring to both existing customers and new customers,” said Ashley Stephenson, Chief Executive of Corero.
Shares in Corero Network Security were trading 13.89% at 4.1p during Thursday trading.
These new customers include a US regional service provider of internet and telephony services and the Japanese subsidiary of one of the world's leading on-line brands.
SmartWall solutions will enable customers to provide DDoS protected services to their end-user customers which the group considers important given ‘the increasing threat of and growth in DDoS attacks.’
Amongst its existing clients, Corero received a material services contract renewal from a leading US-based hosting provider, representing its fourth consecutive annual renewal.
Stephenson added that the record quarter highlighted “the positive impact” that direct sales and channel partnership activities are having across the business, which the group says is also reflected “in a strong pipeline for the rest of the first half of 2020.”
Corero will be releasing audited final results for the year ended 31 December 2019 on the Monday 6 April 2020.
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