Corero confirms additional SmartWall order
(ShareCast News) - Network security company Corero Network Security announced an additional order of $0.5m for its SmartWall Threat Defense System on Wednesday, from the US-based international hosting provider that initially placed an order of $0.7m in March 2016.
The AIM-traded firm said that, with the latest order, the top 10-ranked provider becomes Corero's second $1m+ SmartWall customer.
It said the order provided additional DDoS mitigation capacity for the unnamed, "growing" customer with more than one terabit of SmartWall DDoS mitigation capacity.
In addition to the one time purchase amount of $0.5m, the recurring revenue from the contract now exceeded $0.5m per annum.
Corero's target market for its scalable SmartWall solution included service providers and hosting providers, the company's board explained, whose businesses were seeing strong growth from increased internet connectivity and cloud infrastructure demands from their customers.
That in turn drove demand for incremental DDoS protection.
"We are delighted to see strong demand from existing hosting and service provider customers for additional DDoS mitigation capacity, a trend we expect to see continue in our service provider and hosting provider target markets," said CEO Ashley Stephenson.
"These purchases validate both the efficacy of our SmartWall product and the DDoS protection revenue boost enjoyed by many of these customers."