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Highlights
- $1.7 Million in New Contracts: Corero announces key customer wins and expansions in Q4 2024.
- Global Growth: New customer contracts in Iceland, the U.S., and the EU highlight strong regional momentum.
- Key Renewals: Expanding relationships with existing customers, including a UK hosting provider and an EU government department.
Corero Network Security (LSE:CNS) (OTCQX:DDOSF), a leader in Distributed Denial of Service (DDoS) protection, has reported significant progress in securing new business for its SmartWall ONETM DDoS protection solutions during Q4 2024. The company has secured a total contract value of $1.7 million to date, underscoring its continued growth and momentum across multiple markets.
In addition to acquiring new customer mandates, Corero has successfully upsold its services to existing clients, further solidifying its position as a trusted provider of DDoS protection solutions. Notable wins in Q4 2024 include both new customer contracts and expansions with long-standing customers.
Key new contracts include a three-year agreement with a leading Icelandic IT services provider, which will leverage Corero’s technology to support a high-profile portfolio of national enterprises and government agencies. This solution also helps the customer meet regulatory requirements for in-country traffic treatment, offering a competitive advantage in the marketplace. Additionally, Corero has secured a one-year contract with a U.S. federal government agency to provide DDoS protection for one of its major research centers.
Corero has also extended its relationships with existing customers. The company renewed and expanded its partnership with a growing UK-based hosting provider through a three-year contract, focused on the UK and EU markets. Furthermore, Corero signed a three-year contract with a European government department to upgrade its existing hardware and enhance the solution with Corero's SecureWatch® Managed Services.
These new deals reflect Corero’s continued success in providing cutting-edge DDoS protection to a diverse customer base, including government agencies, large enterprises, and hosting providers, positioning the company for sustained growth and leadership in the cybersecurity industry.
