Corero Network Security signed a global partnership with Akamai in September. This agreement is strategically significant for both parties and will enable Akamai to expand into the on-premises and hybrid DDoS markets which it does not currently address. Corero’s SmartWall ONE solution will be rebranded Prolexic On-Prem (powered by Corero) and sold globally.
Strong trading continues in Q3 with significant wins of over $2m of orders amongst others. These include customers in the US, the Caribbean (with global operations) and S. Asia. We continue to see fair value at 14p per share, or a T+1 EV/sales ratio of 3.7x leaving considerable capacity for a rerating.
We were also pleased to host a short interview with Ashley Stephenson, Chief Technology Officer at Corero, as he takes viewers through the answers to some key questions about DDoS (distributed denial-of-service) attacks - what they are, the ramifications of not protecting against them, why Corero's SmartWall product is so effective, why Akamai chose Corero for its on-premises solution, and how all this is translating into financial success.
