Radware Powers Cloud Security-as-a-Service Offering for Leading Infrastructure Provider Cirion Technologies

Rhea-AI Summary

Radware (NASDAQ: RDWR) has signed a managed security service provider (MSSP) agreement with Cirion Technologies, expanding their existing channel relationship. Cirion, a leading digital infrastructure provider in Latin America, plans to invest in Radware's Cloud DDoS Protection Service and offer it to customers across the region.

Cirion, present in 20 countries with over 5,500 clients, aims to enhance its security offering with Radware's solution. The partnership allows Cirion to provide automatic protection, faster mitigation, and better accuracy to a wide range of customers, from small businesses to internet service providers.

Radware's multi-tenant portal simplifies attack management and monitoring for MSSPs. Cirion already offers Radware's Cloud Application Protection Services, including web application firewall and bot management. The expanded relationship is expected to open new revenue streams for Cirion while delivering advanced cloud DDoS protection across Latin America.

Positive

• Expansion of existing channel relationship with Cirion Technologies
• Potential for increased revenue through new MSSP agreement
• Access to Latin American market through Cirion's presence in 20 countries
• Opportunity to serve a wide range of customers, from small businesses to ISPs

Negative

• None.

Insights

Financial Analyst

Radware's expanded partnership with Cirion Technologies represents a strategic move to penetrate the Latin American market more deeply. This MSSP agreement could potentially boost Radware's revenue streams in the region, although specific financial projections aren't provided. The deal leverages Cirion's extensive network across 20 countries and 5,500+ clients, which could significantly expand Radware's customer base. However, investors should note that the impact on Radware's financials may take time to materialize, as the service rollout and adoption rates are yet to be seen. The partnership aligns with the growing trend of outsourced security services, potentially positioning Radware for long-term growth in the rapidly evolving cybersecurity market.

Cybersecurity Expert

This partnership signifies a strategic expansion of Radware's Cloud DDoS Protection Service in Latin America. The collaboration with Cirion Technologies, a well-established infrastructure provider, could enhance Radware's market presence and credibility in the region. Radware's AI-powered solution offers advanced behavioral algorithms and automatic identification of harmful traffic, which are important in combating sophisticated DDoS attacks, including the emerging layer 7 Web DDoS threats. The multi-tenant portal provided to MSSPs is a key differentiator, allowing for scalable and efficient management of multiple clients. This move aligns with the increasing demand for hosted security services, potentially positioning Radware as a leading player in the Latin American cybersecurity market.

Market Research Analyst

The MSSP agreement between Radware and Cirion Technologies taps into the growing cybersecurity market in Latin America. With cyber threats escalating, there's an increasing shift towards outsourced security services, especially in emerging markets. Cirion's extensive presence in 20 countries and its diverse client base provide Radware with a significant opportunity to expand its market share. The offering of Radware's solutions as a service aligns with the trend towards cloud-based, scalable security solutions. However, the success of this partnership will depend on factors such as competitive pricing, service quality and the rate of digital transformation in the region. Investors should monitor the adoption rate and revenue growth from this partnership in future quarters to gauge its impact on Radware's overall performance.

Expands relationship, enabling Cloud DDoS Protection for organizations across Latin America

MAHWAH, N.J., Sept. 09, 2024 (GLOBE NEWSWIRE) -- Radware^® (NASDAQ: RDWR), a global leader in application security and delivery solutions for multi-cloud environments, today announced it signed a managed security service provider (MSSP) agreement with Cirion Technologies. Based on the agreement, Cirion Technologies, a more than 30-year veteran and leading provider of digital infrastructure, plans to invest in Radware’s industry-leading Cloud DDoS Protection Service and offer it as a service to customers across Latin America. The MSSP agreement represents an expansion of an existing channel relationship between Radware and Cirion.

Driven by its commitment to innovate and anticipate, Cirion was looking to further enhance its security offering and deliver even more advanced network protection for its customers. Today, Cirion is recognized as one of the few Pan Latin American networks, present in 20 countries with more than 5,500 Latin American and multinational clients. In addition, the company operates 18 data centers across Latin America and more than 95 direct connections to carriers and cloud providers.

“Through our strategic partnership with Radware, we intend to offer our customers a premium security-as-a-service solution that delivers automatic protection, faster mitigation, better accuracy, and excellence in service and support,” said Eduardo Freitas, senior director of data products at Cirion. “Radware’s unique and customized MSSP model not only enables us to get into market faster, but also meet the DDoS protection needs of a wide range of customers across the region—from small businesses and enterprises to downstream internet service providers.”

To help MSSPs extend their services and scale support across thousands of customers, Radware offers a carrier-grade scalable platform and fully integrated cloud portal. The multi-tenant portal centralizes and simplifies attack management and real-time monitoring as well as delivers detailed analytics and easy-to-read reporting for critical infrastructure assets.

As an existing Radware channel partner, Cirion also offers its customers Radware’s Cloud Application Protection Services. This includes Radware’s industry leading web application firewall, bot management, and API and client-side protection services. Customers can manage the integrated best-in-suite solution through a single pane of glass, helping to reduce operational costs and prevent zero-day attacks.

“We look forward to an expanded relationship with Cirion, helping them open new revenue streams while delivering state-of-the-art cloud DDoS protection for organizations across Latin America,” said Arie Simchis, Radware’s regional director in Latin America. “As cyber attacks increase in sophistication and grow exponentially in number, more organizations are opting for hosted security services and entrusting leading providers like Cirion with protecting their networks and applications.”

Radware’s AI-powered Cloud DDoS Protection Service is designed to automatically identify and surgically block harmful traffic without disrupting legitimate traffic. Using advanced behavioral algorithms, the solution instantly adapts DDoS defenses based on the specific attacker. It not only mitigates DDoS attacks but also safeguards the network, optimizes application performance, and maintains availability during attacks, including the latest wave of layer 7 Web DDoS attacks.

Radware has received numerous awards for its application and network security 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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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.

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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 best-in-suite solution can be managed through a single pane of glass, helping to reduce operational costs and prevent zero-day attacks, 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 is the new agreement between Radware and Cirion Technologies?

Radware (RDWR) signed a managed security service provider (MSSP) agreement with Cirion Technologies, allowing Cirion to invest in and offer Radware's Cloud DDoS Protection Service to customers across Latin America.

How does this agreement expand Radware's presence in Latin America?

The agreement with Cirion Technologies, which operates in 20 Latin American countries and serves over 5,500 clients, allows Radware (RDWR) to extend its Cloud DDoS Protection Service to a wide range of customers across the region.

What services does Radware (RDWR) provide through this partnership?

Through this partnership, Radware provides its Cloud DDoS Protection Service and Cloud Application Protection Services, which include web application firewall, bot management, and API and client-side protection services.

How does Radware's Cloud DDoS Protection Service benefit customers?

Radware's AI-powered Cloud DDoS Protection Service automatically identifies and blocks harmful traffic without disrupting legitimate traffic, adapts defenses based on specific attackers, and safeguards networks while optimizing application performance during attacks.