Company Announcements

1 October 2020

Corero Network Security plc

("Corero" or the "Company")

Record Q3 Order Intake

Over $6 million of orders secured in the Company's third quarter

Corero Network Security plc (AIM: CNS), a leading provider of real-time, high-performance DDoS defense solutions, is pleased to announce a record order intake in its third quarter for the three months ended 30 September 2020, with over $6 million booked during the quarter.

The orders include Corero's largest ever customer order; nine new customer wins, including three customers in APAC (one a tier-one Asian telecoms operator); and continued traction with partners which include Juniper and GTT.  Revenue associated with these orders is recognizable over the course of the lifetime of each of the contracts.

Customers within the Q3 order intake, include:

·    A multimillion-dollar upgrade win for an existing US-based SaaS enterprise solutions provider.  The order is for global deployment of the latest SmartWall TDS solutions with supporting SecureWatch® services over three years, through a Corero channel partner; 

·    A tier one Asian telecoms provider win for a SmartWall TDD solution, secured through our partnership with Juniper Networks, over two years;

·    Two Australian wins, including research, educational and governmental infrastructure providers: one new customer order involves several multiple SmartWall TDS 100Gbps solutions with supporting SecureWatch® services for three years; and the other a SmartWall TDD product sold through our partnership with Juniper Networks, also over three years;

·    A major European telecom services provider win for a three-year SmartWall TDD solution order with supporting services also sold through our partnership with Juniper Networks;

·    A UK-based web-hosting provider win for a three-year DDoS Protection-as-a-Service ("DDPaaS") order including multiple SmartWall TDS solutions with supporting SecureWatch® services; and

·    A US-based managed services provider win including web and application network hosting, co-location and security solutions provider.  The DDPaaS order is for several SmartWall TDS solutions with supporting SecureWatch® services, sold via a Corero channel partner, over three years. 

The deployment of these Corero solutions will enable these customers and others won and renewed in the period to provide DDoS protected services to their end-user customers.

Lionel Chmilewsky, Corero's CEO, said:

"I am extremely pleased with our Q3 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.  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."

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About Corero Network Security

Corero Network Security is a leader in real-time, high-performance DDoS defense solutions. Service providers, hosting providers and digital enterprises rely on Corero's award winning technology to eliminate the DDoS threat to their environment through automatic attack detection and mitigation, coupled with complete network visibility, analytics and reporting. This industry-leading technology provides cost effective, scalable protection capabilities against DDoS attacks in the most complex environments while enabling a more cost-effective economic model than previously available. For more information, visit www.corero.com

The information contained within this announcement was deemed to constitute inside information as stipulated under the Market Abuse Regulation (EU) No. 596/2014 prior to release of this announcement. Upon the publication of this announcement, this inside information is now considered to be in the public domain.