Corero Network Security Secures Major Renewal with DigitalOcean

Rhea-AI Summary

Corero Network Security (AIM: CNS, OTCQB: DDOSF) has renewed a major contract with DigitalOcean, a leading cloud computing provider. This $1M+ agreement extends their partnership for three more years, emphasizing Corero's role in protecting DigitalOcean's network with advanced DDoS protection solutions. DigitalOcean's global network spans over 17 data centers, serving developers, startups, and SMBs. Corero's SecureWatch Managed Services, including configuration optimization, proactive monitoring, and swift mitigation, will be delivered by their Security Operations Center. This renewal follows an eight-month trial period where Corero's SmartWall ONE replaced a competitive solution, resulting in significant performance improvements. A dedicated Technical Account Manager will oversee the continuous enhancement of DigitalOcean's deployment.

Positive

• Renewal of a $1M+ contract with DigitalOcean for three more years.
• Corero's solutions replace a competitive solution, indicating superior performance.
• Successful eight-month trial period demonstrating significant value.
• DigitalOcean has confidence in Corero's ability to protect their critical infrastructure.
• Corero's SecureWatch Managed Services include comprehensive security measures.
• Dedicated Technical Account Manager for ongoing professional services.

Negative

• No specific revenue increase disclosed beyond the $1M+ contract value.
• Potential risk if Corero fails to meet the high standards set during the trial period.
• Dependence on a few large clients like DigitalOcean may pose business risks.

MARLBOROUGH, Mass., June 5, 2024 /PRNewswire/ -- Today, Corero Network Security (AIM: CNS) (OTCQB: DDOSF), the distributed denial of service (DDoS) protection specialists, announced the renewal of a significant contract with DigitalOcean, a leading cloud computing provider. This $1M+ agreement extends the partnership for an additional three years, highlighting Corero's trusted role in safeguarding DigitalOcean's extensive network infrastructure.

DigitalOcean, renowned for offering simple and affordable cloud computing solutions, has been a pioneering force in enabling developers, startups, and SMBs to bring their innovations to life. With a global network spanning over 17 data centers, DigitalOcean has turned to Corero's advanced DDoS protection solutions to ensure seamless operations and robust defense against cyber threats.

Under the renewed contract, Corero will provide DigitalOcean with its comprehensive SecureWatch Managed Services. This fully managed solution encompasses configuration optimization, proactive monitoring, and swift mitigation response to any DDoS incident. Delivered by Corero's Security Operations Center (SOC), this service is designed to meet the specific security policies and business goals of DigitalOcean.

Carl Herberger, CEO at Corero Network Security, commented:

"We are thrilled to continue our partnership with DigitalOcean. This renewal underscores the confidence they have in our ability to protect their critical infrastructure. Our SecureWatch Managed Services will allow DigitalOcean to focus on their core business activities, knowing that their network is in safe hands."

Corero's solution replaces a competitive solution with Corero SmartWall ONE, providing rapid and accurate DDoS attack detection at the network edge. Additionally, a dedicated Technical Account Manager will ensure ongoing professional services and continuous enhancements to DigitalOcean's deployment.

During an initial eight-month ramp-up and trial period, Corero demonstrated significant value through seamless transitions and continuous optimization, ultimately leading to this extended commitment from DigitalOcean.

About Corero Network Security
Corero Network Security is a leading provider of DDoS protection solutions, specializing in automatic detection and protection solutions with network visibility, analytics, and reporting tools. Corero's technology protects against external and internal DDoS threats in complex edge and subscriber environments, ensuring internet service availability. With operational centers in Marlborough, Massachusetts, USA, and Edinburgh, UK, Corero is headquartered in London and listed on the London Stock Exchange's AIM market (ticker: CNS) and the US OTCQB Market (OTCQB: DDOSF).

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SOURCE Corero Network Security

FAQ

What is the value of Corero Network Security's renewed contract with DigitalOcean?

The renewed contract value is over $1M.

How long is the renewed contract between Corero Network Security and DigitalOcean?

The renewed contract extends for an additional three years.

What services will Corero provide to DigitalOcean under the renewed contract?

Corero will provide SecureWatch Managed Services, including configuration optimization, proactive monitoring, and swift DDoS mitigation.

What is the role of Corero's Security Operations Center in the renewed contract?

The Security Operations Center will deliver SecureWatch Managed Services to DigitalOcean, ensuring network security and incident response.

Which product from Corero replaces the competitive solution at DigitalOcean?

Corero's SmartWall ONE replaces the competitive solution at DigitalOcean.

What was the duration of the trial period before the contract renewal between Corero and DigitalOcean?

The trial period lasted for eight months.