Radware Lands Largest Cloud Security Services Agreement to Date

Rhea-AI Summary

Radware (RDWR) has secured its largest cloud security services agreement to date with a Fortune 500 fintech company. The multi-year, multimillion-dollar deal expands their existing relationship and includes the implementation of Radware's complete suite of AI-powered Cloud DDoS Protection and Application Protection Services.

The solution will protect thousands of applications and billions of digital transactions, featuring Cloud DDoS Protection Service, Cloud Application Protection Service, Cloud Web Application Firewall Service, bot manager, and Web DDoS Protection. The platform is powered by EPIC-AI, utilizing AI and generative AI algorithms to provide real-time protection across cloud, on-premises, and hybrid environments.

Positive

• Secured largest cloud security services deal in company history with Fortune 500 client
• Multi-year, multimillion-dollar contract value
• Expansion of existing relationship demonstrates strong client satisfaction
• Deal covers full suite of security products, indicating strong cross-selling success

Negative

• None.

Insights

Cybersecurity Industry Analyst

Radware secures landmark cloud security deal with Fortune 500 fintech, validating its integrated AI-powered security platform in the financial sector.

Radware's announcement represents a significant milestone in the company's cloud security business. The deal's characterization as their largest cloud security services agreement to date marks a substantial customer validation in the competitive cybersecurity market. The multi-year structure provides important revenue stability, while the expansion component demonstrates strong customer satisfaction with Radware's existing services.

Particularly notable is the comprehensive nature of the deployment - the client is implementing Radware's full suite of cloud security services, including Cloud DDoS Protection Service, Cloud Application Protection Service, Cloud Web Application Firewall Service, bot manager, and Web DDoS Protection. This suggests a consolidation strategy away from point solutions toward an integrated security platform approach.

The financial services sector has some of the most demanding security requirements due to regulatory compliance needs and transaction sensitivity. That a Fortune 500 financial company is entrusting Radware to safeguard thousands of applications and billions of digital transactions serves as powerful validation of their technology's scalability and effectiveness.

The emphasis on Radware's AI capabilities (EPIC-AI) aligns with the broader industry trend toward autonomous security operations that can adapt to evolving threats with minimal human intervention. The client's stated goal of minimizing operational overhead while scaling security coverage indicates that operational efficiency was a key decision factor - a growing priority as security teams face persistent skills shortages.

Financial Analyst

Radware's largest-ever cloud security deal demonstrates successful land-and-expand strategy with Fortune 500 client, providing multi-year recurring revenue.

This multi-year, multimillion dollar agreement represents a significant business win for Radware's cloud security division. While specific financial terms aren't disclosed, the characterization as their largest cloud security services agreement suggests material impact on their recurring revenue stream.

The deal structure offers two key financial advantages. First, the multi-year component provides revenue visibility and stability, allowing for more predictable financial planning. Second, as an expansion of an existing relationship, it demonstrates Radware's ability to grow customer accounts over time - a crucial metric for SaaS and cloud service providers.

Customer retention and expansion are particularly valuable in the security sector where acquisition costs can be substantial. The expanded relationship indicates strong product satisfaction and potential for reference selling to similar enterprise customers. The client profile - a global Fortune 500 financial services company and top 10 U.S. merchant acquirer - adds strategic value as financial institutions often serve as bellwethers for security spending.

The comprehensive deployment across Radware's full cloud security suite suggests strong gross margins, as software and cloud services typically carry higher margins than hardware. While the announcement doesn't provide specific financial projections, the deal reinforces Radware's strategy of focusing on high-value cloud security solutions for enterprise customers with complex needs and significant security budgets.

Expands relationship with U.S. Fortune 500 fintech across full cloud DDoS and application security suite

MAHWAH, N.J., May 01, 2025 (GLOBE NEWSWIRE) -- Radware^® (NASDAQ: RDWR), a global leader in application security and delivery solutions for multi-cloud environments, today announced it recorded a major customer win, securing its largest cloud security services agreement to date. The multi-year, multimillion dollar agreement is part of a renewal and expanded relationship with a global, Fortune 500 financial services and payments company and top 10 U.S. merchant acquirer. To manage business growth and increasing cyber threats, the customer plans to scale its security operations across Radware’s full suite of AI-powered Cloud DDoS Protection and Application Protection Services, safeguarding thousands of applications and billions of digital transactions.

The company selected Radware for its ability to deliver a fully integrated, high-capacity application and network protection solution that seamlessly scales usage while minimizing the burden of operational overhead. The agreement spans Radware’s Cloud DDoS Protection Service and Cloud Application Protection Service, which also includes its Cloud Web Application Firewall Service, bot manager, and Web DDoS Protection.

“Our customer’s rapid growth trajectory required an end-to-end cloud security platform that could keep pace with evolving cyber threats without burdening operational resources,” said Neal Quinn, head of North American cloud security services at Radware. “This landmark agreement reinforces Radware’s enormous potential in cloud security and is a testament to our continued investment in the U.S. market. It showcases the trusted partnerships we have built with some of the most demanding digital businesses in the world.”

Radware’s cybersecurity suite includes application and network security solutions infused with EPIC-AI, state-of-the-art AI and generative AI algorithms which are built to block modern attacks while delivering consistent real-time protections across cloud, on-prem, and hybrid environments. Designed to automatically adapt to changes in the threat landscape, applications and infrastructure, Radware’s EPIC-AI approach to security helps organizations significantly improve attack detection and mitigation, reduce mean time to resolution (MTTR), and meet compliance challenges.

Radware has received numerous awards for its application and network security solutions. Industry analysts such as Aite-Novarica Group, Forrester, Gartner, GigaOm, IDC, KuppingerCole, and QKS Group continue to recognize Radware as a market leader in cybersecurity.

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 this landmark agreement reinforces our enormous potential in cloud security, 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, tensions between China and Taiwan, financial and credit market fluctuations (including elevated interest rates), impacts from tariffs or other trade restrictions, inflation, and the potential for regional or global recessions; our dependence on independent distributors to sell our products; our ability to manage our anticipated growth effectively; 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 cybersecurity 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, or 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; our use of AI technologies that present regulatory, litigation, and reputational risks; risks related to the fact that our products must interoperate with operating systems, software applications and hardware that are developed by others;  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; our net losses in the past and the possibility that we may incur losses in the future; a slowdown in the growth of the cybersecurity 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; complications with the design or implementation of our new enterprise resource planning (“ERP”) system; our reliance on information technology systems; our ESG disclosures and initiatives; 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 Contacts:
Gerri Dyrek
Radware
Gerri.Dyrek@radware.com

FAQ

What is the value of Radware's (RDWR) new cloud security contract?

While the exact value wasn't disclosed, it's described as a multi-year, multimillion-dollar agreement, representing Radware's largest cloud security services deal to date.

Who is the Fortune 500 client for Radware's (RDWR) new security contract?

The client is described as a global Fortune 500 financial services and payments company that is among the top 10 U.S. merchant acquirers, though the specific name wasn't disclosed.

What services are included in Radware's (RDWR) new security agreement?

The agreement includes Radware's Cloud DDoS Protection Service, Cloud Application Protection Service, Cloud Web Application Firewall Service, bot manager, and Web DDoS Protection.

How does Radware's EPIC-AI technology enhance its security solutions?

EPIC-AI uses AI and generative AI algorithms to automatically adapt to threats, improve attack detection and mitigation, reduce resolution time, and maintain compliance across cloud, on-premises, and hybrid environments.