Corero Network rises as wins contracts worth USD2.2 million

(Alliance News) - Corero Network Security PLC shares rose on Wednesday, after it said it has won a number of new orders worth USD2.2 million.

Shares in Corero were up 6.6% at 19.98 pence in London on Wednesday.

The cybersecurity provider said it has won new orders for its SmartWall distributed denial-of-service protection offering. A distributed denial-of-service is a cyberattack designing to overwhelm a server by disrupting traffic. The orders total USD2.2 million.

It includes a USD1 million contract with an unnamed company, which Corero described as a "top-10 US fiber provider". Corero will replace the incumbent solutions provider in a number of the provider's US data centres.

Chief Executive Officer Carl Herberger said: "Securing these significant new mandates completes a successful half-year period for the company and provides a strong base from which we can further grow our global market presence and enhance our service offering in the remainder of the year and beyond."

By Sophie Rose, Alliance News senior reporter

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