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Monday 02 December 2019

Corero makes early gains with hybrid DDoS solution

Corero makes early gains with hybrid DDoS solutionA trio of new contract wins and extensions should boost Corero Network Security’s revenue for the current financial year and beyond, with the company’s automated distributed denial of service (DDoS) platform attracting cloud and hosting service providers in the UK, US and Asia Pacific keen to stave off the sort of volumetric flood attack that took Wikipedia servers offline earlier this year.

Two new customers signed deals to lease Corero’s new SmartWall DDoS Protection as a Service (DDPaaS) solution while another extended an existing agreement, guaranteeing Corero additional turnover of around US$1.1m over the next three years.

The company may well need the money. A trading update suggested it endured a difficult first half after revenue dipped 16% yoy to US$4.2m in H119 as previous momentum from its global retail partnership with Juniper Networks appeared to stall.

That relationship further deepened last month when Corero received another US$1.4m of equity investment from its partner. Future revenue growth will depend to a certain extent on Juniper’s success in selling Corero’s SmartWall Threat Defense Director (TDD) software and services alongside its own MX Series routers, but DDPaaS adds another dimension to Corero’s portfolio which reflects the increasingly hybrid nature of modern cyber security solutions (read our report Cyber Security Market Trends and Forecasts here)

Posted by: Martin Courtney

Tags: contracts   DDoS   cybersecurity   cloudserviceproviders  

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