Radware Expands Business with Leading Communications Platform as a Service Provider to Include Hybrid Cloud DDoS Protection

Rhea-AI Summary

Radware has expanded its relationship with a major U.S.-based CPaaS provider in a multimillion-dollar deal for hybrid Cloud DDoS Protection Services, Cloud Firewall as a Service, and Network Analytics. The services complement existing on-premise DDoS defenses for the customer's data centers. The CPaaS provider's infrastructure spans over 10 data centers, 500 protected networks, and operates in more than 60 countries. Radware replaced the previous vendor by offering more granular DDoS detection and mitigation, reducing MTTR and manual countermeasures while maintaining legitimate traffic flow. The solution includes 15Tbps of mitigation capacity through a worldwide network of cloud security service centers.

Positive

• Secured multimillion-dollar deal with major U.S. CPaaS provider
• Successfully replaced competitor as security provider
• Expanded existing customer relationship with additional services

Negative

• None.

Insights

Technology Security Analyst

This multimillion-dollar deal represents a significant competitive win for Radware in the DDoS protection market. The contract expansion with a major CPaaS provider, covering over 500 networks across 60+ countries, demonstrates strong market validation for Radware's hybrid cloud security solutions. The deal's value proposition centers on superior technical capabilities in protecting UDP, SIP and VoIP traffic - critical infrastructure components for communications providers.

The solution's 15Tbps mitigation capacity and automated threat response capabilities address key pain points in the enterprise security landscape: reducing MTTR, minimizing false positives and maintaining service quality during attacks. This win strengthens Radware's position in the growing cloud security market, particularly in the specialized CPaaS segment where security requirements are especially stringent.

Financial Analyst

This expanded contract carries strategic significance for Radware's revenue growth and market positioning. Securing a multimillion-dollar deal with a major CPaaS provider not only provides immediate revenue benefits but also establishes a strong reference case for similar enterprise-scale opportunities. The competitive displacement of an incumbent vendor particularly highlights Radware's technological edge in the DDoS protection market.

For a company with a $908M market cap, landing large enterprise contracts is important for sustainable growth. This deal should positively impact recurring revenue streams through the cloud-based service model while demonstrating Radware's ability to upsell existing customers with additional security services.

Security to span corporate and customer network infrastructures

MAHWAH, N.J., Nov. 05, 2024 (GLOBE NEWSWIRE) -- Radware^® (NASDAQ: RDWR), a global leader in application security and delivery solutions for multi-cloud environments, today announced it has expanded its customer relationship with a prominent U.S. based communications platform as a service (CPaaS) provider. As part of a multimillion-dollar deal, the CPaaS provider purchased Radware’s hybrid Cloud DDoS Protection Services, Cloud Firewall as a Service (FWaaS), and Network Analytics. The new services add to the existing on-prem DDoS defenses Radware provides to protect the customer’s data centers.

Today, the CPaaS provider’s infrastructure includes a cloud platform, more than 10 data centers, 500 protected networks, and a global footprint, covering more than 60 countries. Radware replaced the provider’s previous vendor, when the provider was looking for a more granular DDoS detection and mitigation solution to shrink mean time to response (MTTR) without dropping legitimate customer traffic. The CPaaS provider also wanted to reduce manual countermeasures and latency while increasing its flexibility in moving efficiently and securely between on-prem and cloud environments.

“The success of this competitive take out was driven by Radware’s strong technical performance, starting with an on-premise solution and following with cloud DDoS protection for the provider’s corporate and customer network infrastructures,” said Yoav Gazelle, Radware’s chief business officer. “Our ability to counter specific threats against UDP, SIP, and VoIP traffic—a critical capability for communication providers—gave us a clear advantage and influenced the buying decision.”

Radware’s hybrid cloud DDoS protection uses dedicated, behavioral-based algorithms to work without protection gaps and defend communication providers against evolving threat vectors as their businesses grow. The solution is designed for high-speed environments with minimal impact on traffic latency.

To enhance the CPaaS’s security posture, Radware’s multi-pronged solution is built to:

• Automatically identify and surgically block harmful traffic without disrupting legitimate requests during an attack.
• Provide access to a worldwide network of cloud security service centers with 15Tbps of mitigation capacity, so DDoS attacks can be mitigated closest to their point of origin.
• Offload dirty traffic before it reaches the organization’s network to improve network efficiency.
• Eliminate errors when planning network deployments and stay ahead of DDoS threats through the early detection of network abuse during peacetime.
  

Radware has received numerous awards for its DDoS mitigation, application and API protection, web application firewall, and bot detection and management solutions. Industry analysts such as Aite-Novarica Group, Forrester Research, Gartner, GigaOm, IDC, 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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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 our cloud DDoS protection solution uses dedicated, behavioral-based algorithms designed to work without protection gaps and defend organizations against evolving threat vectors as their businesses grow, 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. 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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.

FAQ

What new services did Radware (RDWR) sell to the CPaaS provider in November 2024?

Radware sold hybrid Cloud DDoS Protection Services, Cloud Firewall as a Service (FWaaS), and Network Analytics to the CPaaS provider.

What is the mitigation capacity of Radware's (RDWR) cloud security service centers?

Radware's worldwide network of cloud security service centers provides 15Tbps of mitigation capacity.

How many networks and countries does the CPaaS provider cover with Radware's (RDWR) protection?

The CPaaS provider covers 500 protected networks across more than 60 countries.