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Tech Capital
EPIC: CNS
Market: AIM
52-week High/Low: 12.60p / 5.25p
Sector: Software & Computer Services
Market Cap: 42.16M
Website: www.corero.com

Corero Network Security is the leader in real-time, high-performance DDoS defense solutions. Service providers, hosting providers and online enterprises rely on Corero’s award winning technology to eliminate the DDoS threat to their environment through automatic attack detection and mitigation, coupled with complete network visibility, analytics and reporting. This next-generation...

Corero Network Security PLC

www.corero.com

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Big picture - Why invest in Corero Network Security PLC

Corero Network Security PLC Snapshot

DDoS attacks continue to rise in size, frequency, and complexity, impacting the security and availability of the Internet. Service providers and Internet connected businesses require real-time protection against this evolving threat landscape.

Corero is dedicated to improving the security and availability of the Internet through the deployment of innovative DDoS mitigation solutions. The Corero SmartWall® Threat Defense System (“SmartWall”) family of products can be deployed in various topologies (in-line or scrubbing). The SmartWall family of solutions utilises modern DDoS mitigation architecture to automatically and surgically remove DDoS attack traffic, while allowing good user traffic to flow uninterrupted.

Corero’s key operational centres are in Marlborough, Massachusetts in the USA and Edinburgh in the UK, with the Company’s registered office in Uxbridge in the UK.

• The goal of the Corero real-time DDoS mitigation solution is to protect the customer’s service availability and ultimately revenues and brand reputations from harmful DDoS attacks.

• The Corero solutions are the highest performing in the industry, while providing the most automated DDoS protection at unprecedented scale with the lowest total cost of ownership to the customer.

• These solutions are designed to provide real-time attack mitigation with continuous threat visibility, enabling the monetisation of DDPaaS offerings.

• The Corero SmartWall protects against the latest breed of DDoS attacks in seconds not minutes, including network and application layer attacks, volumetric and multi-vector attacks.

 

What we do.....

Corero provides dedicated technology for real-time mitigation of DDoS attacks in seconds versus minutes, allowing good user traffic to flow uninterrupted.

Corero enables revenue protection, customer retention, and competitive differentiation in the face of DDoS attacks, for Internet Service Provider and Hosting Provider customers.

How we do it....

With varied deployment topologies (in-line or scrubbing) the SmartWall family of solutions utilises modern DDoS mitigation architecture to automatically, and surgically remove DDoS attack traffic.

 

Automatic Real-time DDoS Protection

The Corero solutions are the highest performing in the industry, while providing the most automatic security coverage at unprecedented scale with the lowest total cost of ownership to the customer.

Protection is provided in cost effective scaling increments from 10Gbps to 100Gbps, to support bandwidth and inspection requirements.

This technology provides configurable policies to selectively enable a broad range of specific protection mechanisms to defend critical network assets against DDoS attack traffic

Corero enables Service Providers and Hosting Providers to deliver high value DDPaaS to their customers, allowing for incremental  services revenue.

The Corero SmartProtect program allows for monthly subscription procurement options to acquire SmartWall technology.

The Corero Service Portal allows for provider and tenant visibility for traffic and attack dashboards. Providers can assign subscriber/tenant service levels, and distribute reporting and analytics to showcase the value of the protection they are receiving.

Robust reporting and analytics, powered by Splunk, transform sophisticated DDoS event data into easily consumable dashboards.

The Corero SecureWatch® Service is a tiered offering comprised of configuration optimisation, monitoring and mitigation response services. These services, delivered by the Corero Security Operations Centre are customised to meet the security policy requirements and business goals of each SmartWall customer that engages in a SecureWatch service plan.

 

Ashley Stephenson

 

 

 

 

 

 

 

 

Ashley Stephenson
Chief Executive Officer

As Chief Executive Officer, Ashley Stephenson leads the company’s global expansion strategy. A seasoned executive with a proven track record in the technology industry, he brings a notable record, having co-founded or led several technology companies as Chairman or CEO. An IT industry executive and Internet technology entrepreneur, Stephenson has operating experience in the United States, Europe and Asia. As CEO he drives Corero’s global strategy, focusing on the company’s growth by capitalizing on its market leading real-time DDoS mitigation offerings and strong blue-chip customer base.

Previously, Stephenson was CEO of Reva Systems, acquired by ODIN, and Xedia Corporation, acquired by Lucent. He was awarded "CEO of the Year" by the Massachusetts Telecommunications Council for his work at Xedia Corp.

In recent years he has spent the majority of his time providing strategic advisory services on the evolution of the global IT market.

Stephenson began his career at IBM Research & Development in the United Kingdom. For several years he taught Entrepreneurship as an Adjunct Professor in the Babson College MBA program. Stephenson has served on the Board of Directors of many venture-backed startups and industry consortia. He is a graduate of Imperial College, London with a degree in Physics and an Associate of the Royal College of Science. He is the holder of several U.S. patents.

 

Andrew Lloyd

 

 

 

 

 

 

 

 

 

Andrew Lloyd
President and EVP Sales & Marketing

As President and Executive Vice President of Sales and Marketing, Andrew Lloyd is responsible for leading Corero’s commercial expansion and sales growth with a focus on delighting new and existing customers. Lloyd (non-executive director) has been involved in the IT software and systems sector for more than 25 years. His career has included roles in early stage and high-growth pre-IPO ventures including PrismTech and Workplace Systems, as well as large corporations such as Computer Associates and Oracle. Most recently, Andrew was Chief Customer Officer at private equity backed Workplace Systems and part of the leadership team which subsequently sold the business to US-based WorkForce Software in June 2016.  Following the sale, Andrew was appointed SVP Sales for WorkForce Software with responsibility for leading the sales teams in EMEA and Asia Pacific regions while completing the post-acquisition integration of the Workplace Systems business. Andrew has a BSc (Hons), Electronic and Electrical Engineering from Heriot-Watt University, Scotland.

 

Andrew Miller

 

 

 

 

 

 

 

 

 

Andrew Douglas Miller
Chief Financial Officer, and Executive Director

Andrew Douglas Miller, CFO and Executive Director responsible for finance and operations, was with the Datatec Limited group in a number of roles between 2000 and 2009 including the Logicalis Group Limited (“Logicalis”) Operations Director and Corporate Finance and Strategy Director. Miller led the Logicalis acquisition strategy, acquiring and integrating 12 companies in the US, UK, Europe and South America. Prior to this, Miller gained considerable corporate finance experience in London with Standard Bank, West Deutsche Landesbank and Coopers & Lybrand. Miller trained and qualified as a chartered accountant and has a bachelor’s degree in commerce from the University of Natal, South Africa.

 

Joe Branca

 

 

 

 

 

 

 

 

 

Tony Hart
Chief Architect, Engineering

As Chief Architect, Engineering, Tony Hart spearheads technical   strategy and development of Corero’s industry leading DDoS mitigation technology. Tony  has over 20 years’ experience in the architecture and development of networking products, including routers, switches an optical equipment. Previously, Tony ran the architectural development of a forerunner to SDN controller at Soapstone Networks. Prior to Soapstone, Tony was the Chief Engineer at Avici Systems, building one of the industry’s first Terabit Router. Tony also had previous roles at IBM, BTI Systems, Netezza and Digital Equipment Corporation.

 

Joao Melo

 

 

 

 

 

 

 

 

 

Joao Melo
Vice President, Operations and Customer Services

In his role as Vice President Operations and Customer Services, Joao Melo assures Corero outperforms its competition in terms of quality, service level agreement (manufacturing) and cost of goods. Melo has been providing substantial operational value to the company's business for over 10 years, continuously improving value to the customer through streamlining corporate processes and focusing on their needs. He has more than 20 years of creative problem-solving experience in many business areas, including supply chain management, manufacturing, regulatory compliance, quality assurance, sales management, product marketing, product development and engineering.

Prior to joining the company, Melo was a senior consulting engineer, delivering product design consulting services for Bleck Design Group. He also held a position as a mechanical engineer for Bose Corp. He holds a BSME from Boston University and MBA from Babson College with a focus on managing technology-intensive enterprise.

 

Julian Palmer
Vice President, Engineering 

Julian Palmer, Vice President of Engineering, is responsible for Corero’s worldwide product development and research team. Palmer brings over 25 years of engineering leadership and product development across the network security, storage, and operating systems industries. Palmer has a proven track record of developing product and engineering strategy, and successfully leading multi-site R&D organizations to success.

Prior to joining Corero, Palmer was a Distinguished Technologist and Senior Product Manager within HP Enterprise Security Products and HP Networking divisions. Within HP TippingPoint, Palmer was instrumental in developing both product and engineering strategy, and led various significant new product introduction projects in the next generation firewall, intrusion prevention and networking spaces. Palmer has also held senior roles within 3Com Corporation, Adaptec, and Digital Equipment. Palmer has a Bachelor of Science degree in Computer Science from Edinburgh University, United Kingdom.

 

 

Joe Branca

 

 

 

 

 

 

 

 

 

Stephanie Weagle
Vice President, Marketing

Stephanie Weagle brings 12+ years of marketing and communications experience to Corero Network Security. As Vice President of Marketing for the Corero DDoS protection solutions, Stephanie strives to accelerate market penetration of the award winning Corero real-time DDoS mitigation product portfolio. Stephanie has been instrumental in establishing Corero as a category creator for automatic, scalable DDoS protection that is architected to meet the needs of any Internet dependent organization, including, mid-tier hosting and service providers, on-line gaming entities, tier-1 carriers and large online enterprises.

Major shareholders

As of 30 June 2017 the following shareholders held more than 3% of the issued share capital:

Significant Shareholders

Shareholder
Shares  
%
Miton UK Microcap Trust PLC
28,185,555 
8.9%
Richard Koch
26,370,500
8.4%
Herald Investment Management 25,006,406 7.9%
Sabvest Capital Holdings Limited 
17,433,333 
6.5%
Peter Gain *  16,630,000 5.5%

Directors Interests

Shareholder
Shares
%
Jens Montanana **
138,000,000
43.75%
Richard Last
1,316,667
0.42%
Andrew Miller
1,091,437
0.35%
Andrew Lloyd 300,000 0.10%
Ashley Stephenson
38,000
0.01%

** of which 25,987,889 are held in the name of JPM International Limited, which is wholly owned by Jens Montanana and 94,258,302 are held in the name of The New Millennium Technology Trust of which Jens Montanana is a beneficiary.

United States 

225 Cedar Hill Street
Suite 337
Marlborough, MA 01752
Tel: +1 978 212 1500
Fax: +1 978 212 1600
Email: [email protected]

Europe, Middle East, and Africa

United Kingdom
Regus House, Highbridge, Oxford Road
Uxbridge UB8 1HR, UK
Tel: +44 (0) 1895 876579
Email: [email protected]


Spain
C/Ribera del Loira, 46
28042 Madrid, España
Tel: +34 91 503 06 59
Fax: +34 91 503 00 99
Email: [email protected]

 

Germany
Pappelallee 78-79
10437 Berlin, Germany
Tel: +49 30 609849 0514
Email: [email protected]

Secretary and Registered Office
Duncan Swallow
Highbridge, Oxford Road, Uxbridge, Middlesex, UB8 1HR

Nominated Advisor and Broker
Cenkos Securities

6-8 Tokenhouse Yard, London EC2R 7AS

Auditors
BDO LLP

Clarendon House, Clarendon Road, Cambridge, CB2 8FH

Solicitors to the Company
Dorsey and Whitney (Europe) LLP

199 Bishopsgate, London, EC2M 3U

Principal Bankers
Santander

2 The Forbury, Reading, RG1 3EU

Square 1 Bank
406 Blackwell Street, Suite 240, Durham, North Carolina, 27701, USA

Registrars and Transfer Office
Capita Asset Services

The Registry, 34 Beckenham Road, Beckenham, Kent, BR3 4TU

Public Relations Advisers
Redleaf Communications

First Floor, 4 London Wall Buildings, Blomfield Street, London, EC2M 5NT
Tel: +44 (0) 207 382 4747

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