Corero enters strategic Latin America partnership

21st Feb 2024 12:37

(Sharecast News) - Corero Network Security announced a significant strategic partnership on Wednesday with TechEnabler, a prominent Brazilian network solutions distributor, aimed at bolstering its presence in the Latin American market.

The AIM-traded firm said the partnership was part of its commitment to expanding its footprint in Latin America as part of its overarching growth strategy, particularly in offering distributed denial of service (DDoS) protection solutions to corporate and communications provider networks in Brazil and the broader region.

It said that, by leveraging TechEnabler's network and expertise, the partnership would facilitate the deployment of Corero's flagship 'SmartWall ONE' platform to new customers.

The partnership would operate on a revenue-sharing model, ensuring mutual benefits and success from the combined efforts of both organisations.

Corero said the partnership had already yielded results, with Corero securing a product and services deal worth more than $1m, marking its largest-ever contract in the region.

The board put that success down to TechEnabler's unique local scrubbing-as-a-service (LSaaS) offering, which uses Corero's technology.

It said the LSaaS service was engineered to provide zero latency and precise traffic management, setting new benchmarks in DDoS mitigation capabilities.

"Creating this strategic partnership with TechEnabler provides an ideal platform to expand our product reach in a key growth market for Corero, alongside aligning our business with a partner who shares our commitment to cybersecurity excellence," said chief executive officer Carl Herberger.

"This agreement reinforces our focus on security innovation, which in turn will allow a new crop of businesses to fortify their networks against DDoS attacks whilst exploring further opportunities to leverage our cutting-edge solutions."

At 1308 GMT, shares in Corero Network Security were down 1.21% at 8.15p.

Reporting by Josh White for Sharecast.com.