Corero Network Security confirms record quarterly order intake
Cybersecurity provider Corero Network Security announced a record order intake in its third quarter on Thursday, with more than $6m (£4.67m) booked during the quarter.
The AIM-traded firm said the orders included its largest-ever customer order, nine new customer wins, including three customers in the Asia-Pacific geography, and continued traction with partners which include Juniper and GTT.
Revenue associated with those orders would be recognisable over the course of the lifetime of each of the contracts, the board said.
Customers within the third quarter order intake for the three months ended 30 September included a multimillion-dollar upgrade win for an existing US-based software-as-a-service (SaaS) enterprise solutions provider.
The order was for a global deployment of the latest ‘SmartWall TDS’ solutions, with supporting ‘SecureWatch’ services over three years, through a Corero channel partner.
A tier one Asia telecoms provider was also signed on for a ‘SmartWall TDD’ solution, secured through the company’s partnership with Juniper Networks, over two years.
Two wins were recorded in Australia, including research, educational and governmental infrastructure providers, with one new customer order involving several multiple ‘SmartWall TDS’ 100Gbps solutions with supporting ‘SecureWatch’ services for three years.
The other was a ‘SmartWall TDD’ product sold through Corero’s partnership with Juniper Networks, also over three years;
A major European telecom services provider was won for a three-year ‘SmartWall TDD’ solution order, with supporting services also sold through its partnership with Juniper Networks.
Corero also won the business of a UK-based web-hosting provider for a three-year DDoS protection-as-a-service (DDPaaS) order, including multiple ‘SmartWall TDS’ solutions with supporting ‘SecureWatch’ services.
Finally, it said a US-based managed services provider was signed on, including web and application network hosting, co-location and security solutions provider.
The DDPaaS order was for several ‘SmartWall TDS’ solutions with supporting ‘SecureWatch’ services, sold via a Corero channel partner, over three years.
“I am extremely pleased with our third quarter performance, as not only have we set a new record for order intake in the quarter, but we have secured a number of new customers and seen our largest deal value to date,” said chief executive officer Lionel Chmilewsky.
“The wins we have seen are fully aligned with our strategy, which is to expand our international presence, to penetrate global and tier one accounts, and to strengthen our relationships and traction with key business partners.”
At 1123 BST, shares in Corero Network Security were up 22.19% at 9.47p.