Three new contracts net Corero Network Security over $1m

Corero Network Security enjoyed a boost on Wednesday after securing three customer orders for a total value of over $1m.

The DDoS protection and online security outfit said the most valuable of the three contracts was a $0.5m expansion order for its SmartWall Threat Defence System from a pre-existing customer.

Andrew Lloyd, president and executive vice president of sales and marketing, said: "These customer wins are demonstrative of the increasing traction we are seeing across our DDoS mitigation solutions, and in particular, our 100Gbps SmartWall technology as the adoption of faster and more economic 100Gbps links accelerates."

Lloyd added that this claim was further supported the by $2m order intake that the SmartWall 100Gbps offering has generated in the year since its launch.

The other two orders were a $0.2m SecureWatch renewal and a $0.3m DDoS protection as a service contract from a new global hosting customer.

"In addition, the SmartWall early adopter customer renewal we have secured reflects our high levels of customer satisfaction that we pride ourselves on and which underpin our exceptionally high subscription and support renewal rates," said Lloyd.

Corero’s shares were up 3.31% at 12.50p at 1308 GMT.