Radware Expands Always-On Hybrid DDoS Protection for a Top 5 European Stock Exchange

Rhea-AI Summary

Radware (NASDAQ: RDWR) has secured a multimillion-dollar expansion deal with a top 5 European stock exchange to enhance its always-on hybrid DDoS protection. The upgrade includes Radware's new DefensePro X, Cyber Controller, and Emergency Response Team (ERT) managed services. This expansion addresses the global surge in high-intensity, volumetric attacks, particularly Web DDoS attacks, which have increased by 265% in the first half of 2024 compared to the second half of 2023.

The deal highlights the growing threat of sophisticated DDoS attacks fueled by geopolitical tensions. Radware's AI-powered solutions provide automated, adaptive protection against various cyber threats, including IoT-based, Burst, DNS, and TLS/SSL attacks. The company's solutions aim to protect legitimate user experiences while minimizing false positives and human intervention.

Positive

• Secured multimillion-dollar expansion deal with a major European stock exchange
• Upgraded DDoS protection services to include new DefensePro X and Cyber Controller
• Addressing 265% surge in Web DDoS attacks observed in H1 2024
• Providing AI-powered advanced behavioral algorithms for automated, adaptive DDoS protection
• Recognized as a market leader by industry analysts

Negative

• None.

Cybersecurity Expert

This expansion deal signifies a major win for Radware in the critical financial sector. The upgrade to DefensePro® X and Cyber Controller demonstrates the growing demand for advanced DDoS protection, especially against the alarming 265% surge in Web DDoS attacks. The inclusion of AI-powered algorithms and GenAI capabilities in Radware's solutions showcases their technological edge in combating sophisticated threats.

The deal's timing, amidst heightened geopolitical tensions, underscores the urgency for robust cybersecurity measures in financial institutions. Radware's ability to secure a top European stock exchange validates its position as a trusted provider in high-stakes environments. This could potentially lead to more contracts in the financial sector, boosting Radware's market share and revenue streams.

Financial Analyst

The multimillion-dollar expansion deal represents a significant revenue boost for Radware (NASDAQ: RDWR). While the exact figure isn't disclosed, such contracts in the financial sector typically involve substantial recurring revenue through subscription-based services. The deal's scope, including hardware, software and managed services, suggests a comprehensive, high-value engagement.

Investors should note the potential for upselling and cross-selling opportunities within Radware's existing client base, as demonstrated by this expansion. The company's recognition by industry analysts as a market leader could further strengthen its competitive position and support future growth. However, the intense competition in the cybersecurity space and the need for continuous innovation to stay ahead of evolving threats remain key challenges to monitor.

Market Research Analyst

Radware's success in securing this deal reflects the broader market trend of increased cybersecurity spending, particularly in the financial sector. The 265% surge in Web DDoS attacks highlights a rapidly growing threat landscape, creating substantial market opportunities for DDoS protection providers.

The emphasis on AI and GenAI capabilities in Radware's solutions aligns with the industry shift towards more intelligent, automated security systems. This positioning could give Radware a competitive edge in a crowded market. The company's ability to offer a comprehensive suite of products and services, including managed support through its Emergency Response Team, caters to the increasing demand for end-to-end security solutions. This holistic approach could be a key differentiator in winning future contracts and expanding market share.

Multimillion-dollar deal addresses global surge in volumetric Web DDoS attacks

MAHWAH, N.J., Sept. 18, 2024 (GLOBE NEWSWIRE) -- Radware® (NASDAQ: RDWR), a global leader in application security and delivery solutions for multi-cloud environments, today announced it closed a multimillion-dollar expansion deal with a leading European stock exchange. The multinational leader upgraded its Radware DDoS Protection Services to include Radware’s recently released DefensePro® X and Cyber Controller as well as its Emergency Response Team (ERT) managed services.

The international financial exchange, which has thousands of employees worldwide, enhanced its always-on hybrid DDoS protection to further strengthen its cyber defenses and address the global surge in high-intensity, volumetric attacks. This includes protection against Web DDoS attacks, a new aggressive form of HTTP Flood that targets Layer 7. According to Radware’s H1 2024 Global Threat Analysis Report, Web DDoS attacks surged globally 265% during the first six months of this year compared to the second half of 2023.

“The growing threat of increasingly sophisticated Web DDoS attacks fueled by worldwide geopolitical tensions and ideological and religious motivations continue to influence customer buying decisions,” said Yoav Gazelle, Radware’s chief business officer. “The shifts in the threat landscape demand automated, real-time protection that operates at a high level of performance and scale, surgically blocking malicious traffic without disrupting legitimate requests – and that’s what our DefensePro X is designed to do.”

Financial services organizations are high-value targets for cyber attacks because successfully disrupting operations, for even a moment, can lead to severe reputational risks and distrust in the global financial system. In addition, these organizations can serve as a tactical advantage in hybrid warfare.

Using AI-powered advanced behavioral algorithms, DefensePro X provides automated, adaptive DDoS protection from fast-moving, high-volume, encrypted or zero-day threats. It defends against IoT-based, Burst, DNS and TLS/SSL attacks, ransom DDoS campaigns, IoT botnets, phantom floods, and other types of cyber threats.

To oversee the complete DDoS protection lifecycle and speed time to mitigation, DefensePro X works with the Radware Cyber Controller. The state-of-the-art management, security operations, and orchestration system provides a single location for traffic visibility, robust analytics, and advanced security operations.

For customers facing application- and network-layer DDoS attacks, Radware’s Emergency Response Team (ERT) provides 24x7 support and mitigation services. The group of security experts bolsters an organization’s security capabilities and resources by leveraging industry-leading experience, best practices, and real-time, AI-powered threat intelligence.

Powered by and infused with the AI-based intelligence and GenAI capabilities, Radware’s network and application security solutions protect legitimate user experiences while minimizing false positives and the need for human intervention. Radware has received numerous awards for its solutions. Industry analysts such as Aite-Novarica Group, Forrester Research, Gartner, GigaOm, KuppingerCole, and Quadrant Knowledge Solutions continue to recognize Radware as a market leader in cyber security.

About Radware
Radware® (NASDAQ: RDWR) is a global leader in application security and delivery solutions for multi-cloud environments. The company’s cloud application, infrastructure, and API security solutions use AI-driven algorithms for precise, hands-free, real-time protection from the most sophisticated web, application, and DDoS attacks, API abuse, and bad bots. Enterprises and carriers worldwide rely on Radware’s solutions to address evolving cybersecurity challenges and protect their brands and business operations while reducing costs. For more information, please visit the Radware website.

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©2024 Radware Ltd. All rights reserved. Any Radware products and solutions mentioned in this press release are protected by trademarks, patents, and pending patent applications of Radware in the U.S. and other countries. For more details, please see: https://www.radware.com/LegalNotice/. All other trademarks and names are property of their respective owners.

Radware believes the information in this document is accurate in all material respects as of its publication date. However, the information is provided without any express, statutory, or implied warranties and is subject to change without notice.

The contents of any website or hyperlinks mentioned in this press release are for informational purposes and the contents thereof are not part of this press release.

Safe Harbor Statement
This press release includes “forward-looking statements” within the meaning of the Private Securities Litigation Reform Act of 1995. Any statements made herein that are not statements of historical fact, including statements about Radware’s plans, outlook, beliefs, or opinions, are forward-looking statements. Generally, forward-looking statements may be identified by words such as “believes,” “expects,” “anticipates,” “intends,” “estimates,” “plans,” and similar expressions or future or conditional verbs such as “will,” “should,” “would,” “may,” and “could.” For example, when we say in this press release that the growing threat of increasingly sophisticated Web DDoS attacks fueled by worldwide geopolitical tensions and ideological and religious motivations continue to influence customer buying decisions, we are using forward-looking statements. Because such statements deal with future events, they are subject to various risks and uncertainties, and actual results, expressed or implied by such forward-looking statements, could differ materially from Radware’s current forecasts and estimates. Factors that could cause or contribute to such differences include, but are not limited to: the impact of global economic conditions, including as a result of the state of war declared in Israel in October 2023 and instability in the Middle East, the war in Ukraine, and the tensions between China and Taiwan; our dependence on independent distributors to sell our products; our ability to manage our anticipated growth effectively; a shortage of components or manufacturing capacity could cause a delay in our ability to fulfill orders or increase our manufacturing costs; our business may be affected by sanctions, export controls, and similar measures, targeting Russia and other countries and territories, as well as other responses to Russia’s military conflict in Ukraine, including indefinite suspension of operations in Russia and dealings with Russian entities by many multi-national businesses across a variety of industries; the ability of vendors to provide our hardware platforms and components for the manufacture of our products; our ability to attract, train, and retain highly qualified personnel; intense competition in the market for cyber security and application delivery solutions and in our industry in general, and changes in the competitive landscape; our ability to develop new solutions and enhance existing solutions; the impact to our reputation and business in the event of real or perceived shortcomings, defects, or vulnerabilities in our solutions, if our end-users experience security breaches, if our information technology systems and data, or those of our service providers and other contractors, are compromised by cyber-attackers or other malicious actors or by a critical system failure; outages, interruptions, or delays in hosting services; the risks associated with our global operations, such as difficulties and costs of staffing and managing foreign operations, compliance costs arising from host country laws or regulations, partial or total expropriation, export duties and quotas, local tax exposure, economic or political instability, including as a result of insurrection, war, natural disasters, and major environmental, climate, or public health concerns, such as the COVID-19 pandemic; our net losses in the past two years and possibility we may incur losses in the future; a slowdown in the growth of the cyber security and application delivery solutions market or in the development of the market for our cloud-based solutions; long sales cycles for our solutions; risks and uncertainties relating to acquisitions or other investments; risks associated with doing business in countries with a history of corruption or with foreign governments; changes in foreign currency exchange rates; risks associated with undetected defects or errors in our products; our ability to protect our proprietary technology; intellectual property infringement claims made by third parties; laws, regulations, and industry standards affecting our business; compliance with open source and third-party licenses; and other factors and risks over which we may have little or no control. This list is intended to identify only certain of the principal factors that could cause actual results to differ. For a more detailed description of the risks and uncertainties affecting Radware, refer to Radware’s Annual Report on Form 20-F, filed with the Securities and Exchange Commission (SEC), and the other risk factors discussed from time to time by Radware in reports filed with, or furnished to, the SEC. Forward-looking statements speak only as of the date on which they are made and, except as required by applicable law, Radware undertakes no commitment to revise or update any forward-looking statement in order to reflect events or circumstances after the date any such statement is made. Radware’s public filings are available from the SEC’s website at www.sec.gov or may be obtained on Radware’s website at www.radware.com.

Media Contact:
Gerri Dyrek
Radware
Gerri.Dyrek@radware.com

FAQ

What new products did Radware (RDWR) include in its expansion deal with the European stock exchange?

Radware included its recently released DefensePro X, Cyber Controller, and Emergency Response Team (ERT) managed services in the expansion deal with the European stock exchange.

How much did Web DDoS attacks increase globally in the first half of 2024, according to Radware (RDWR)?

According to Radware's H1 2024 Global Threat Analysis Report, Web DDoS attacks surged globally by 265% during the first six months of 2024 compared to the second half of 2023.

What types of cyber threats does Radware's (RDWR) DefensePro X protect against?

Radware's DefensePro X protects against IoT-based attacks, Burst attacks, DNS attacks, TLS/SSL attacks, ransom DDoS campaigns, IoT botnets, phantom floods, and other types of cyber threats.

How does Radware (RDWR) enhance its DDoS protection with AI technology?

Radware uses AI-powered advanced behavioral algorithms to provide automated, adaptive DDoS protection. Their solutions are infused with AI-based intelligence and GenAI capabilities to protect legitimate user experiences while minimizing false positives and human intervention.