Corero Network Security scores multiple 'significant orders'

Cyber defence group Corero Network Security has secured "significant orders" from both new and existing customers for its SmartWall distributed denial of service protection solutions and services.

Corero said on Thursday that the orders, all of which fall within its "ideal customer profile", total $2.0m over the course of the contracts - roughly $380,000 per customer.

The AIM-listed group will provide its services to a cloud computing and services provider, an outsourced IT infrastructure and managed services group, a rural-focussed provider of internet and telephony services, a regional internet and telephony services provider, and an international online gaming company.

Chairman Jens Montanana said: "We are pleased to have delivered a number of key customer wins in Q1 2023 which reinforce our growing reputation as a leading provider of cutting-edge DDoS cybersecurity solutions.

"We have renewed our focus on Corero's ICP with a more targeted sales and marketing approach to ultimately drive revenue growth. We look forward to building on this new business momentum across the year as we continue to explore opportunities to expand our customer base."

As of 0925 BST, Corero shares were up 11.13% at 6.39p.

Reporting by Iain Gilbert at Sharecast.com