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Tuesday 20 July 2021

Remote working drives further Corero momentum

Remote working drives further Corero momentumPandemic induced demand for secure remote working solutions continues to drive impressive growth for Corero Network Security (read our latest Cyber Security Market Trends and Forecasts report here). A trading update suggests the company’s turnover surged by around 34% to US$8.3m in the first half of its financial year.

Corero added 20 new customers for its SmartWall DDoS protection as a service (DDPaaS) solution in the period, eight of which were sourced through its strategic partnership with Juniper Networks. As more people work from home and other distributed locations, telcos and Internet Service Providers (ISPs) are beefing up the security protection they provide on consumer and business broadband connections as a way to differentiate their services and attract more customers. The latest contract win involves the joint provision of SmartWall and Juniper’s MX Series Routers to German telco Plusnet for example.

That demand may dissipate over time as social distancing restrictions are eased and workers head back to central offices. As such Amersham-headquartered Corero is unlikely to repeat the 73% revenue growth achieved in FY20. But with sales historically stronger in the July to December period it may not fall far short either. Management report that the H221 pipeline is strong, while marketing initiatives are successfully broadening its geographical reach and penetrating new verticals.

Posted by: Martin Courtney at 09:32

Tags: DDoS   cybersecurity   tradingupdate  

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