Corero Network Security PLC on Tuesday said it has signed a new contract with a ‘leading’ global satellite service provider, its first in the satellite service market.
According to the London-based cybersecurity provider, the contract is worth over $500,000. Corero didn’t name the customer but said it has ‘an extensive presence across Europe’.
Under the terms of the contract, Corero will deliver its SmartWall One ultra-low latency distributed denial of service protection solutions across a network of globally positioned ground stations.
Securing the agreement will allow the company to focus on delivering growth ‘from a vertical market expansion perspective’. It is also expected to drive additional sector opportunities.
‘I am delighted that we have added this significant customer to our growing portfolio of global service providers. Having one of the world’s leading satellite service providers working with Corero opens up an additional vertical market for us to target, and further demonstrates the reach, relevance and appeal of Corero’s SmartWall One product,’ said Executive Chair Jens Montanana.
Corero Network Security shares were trading 2.6% higher at 8.00 pence each in London on Tuesday afternoon.
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