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RIGA/MAHWAH - Latvian technology company Tet has signed a managed security service provider (MSSP) agreement with Radware (NASDAQ:RDWR), a $1.06 billion market cap cybersecurity firm with impressive 80.72% gross profit margins, to add the company’s AI-powered Cloud Application Protection Services to its managed services portfolio, the companies announced Thursday.
The agreement expands an existing relationship in which Tet already utilizes Radware’s DefensePro DDoS Protection to safeguard its business customers. The expanded partnership comes as Tet seeks to enhance security offerings amid rising web DDoS attacks. Radware’s strong financial position, with more cash than debt on its balance sheet, positions it well to support this expansion. InvestingPro data shows the company achieved 11.51% revenue growth in the last twelve months.
According to Radware’s 2025 Global Threat Analysis Report, Layer 7 web DDoS attacks increased by 550% between 2023 and 2024, with activity primarily linked to hacktivist groups motivated by geopolitical conflicts.
"Many of our customers are moving to the public cloud, where legacy solutions no longer offer adequate protection," said Dmitrijs Nikitins, chief technology officer at Tet. "By partnering with Radware, we can offer them not only state-of-the-art managed application security services but also the flexibility of full protection from data center to the cloud."
Radware’s Cloud Application Protection Service provides web application firewall capabilities, bot detection and management, API protection, client-side protection, and application-layer DDoS protection through a single platform.
Tet, one of the largest technology companies in the Baltics with over 1,400 employees, offers ICT and pay-TV services for households, as well as data center services, cloud and cybersecurity solutions for businesses and government institutions.
The announcement was made in a press release statement from both companies. With analyst targets suggesting potential upside and three analysts recently revising earnings estimates upward, Radware’s growth trajectory in the cybersecurity sector appears promising. For detailed analysis of Radware and other cybersecurity stocks, including exclusive Fair Value calculations and 12+ additional ProTips, visit InvestingPro.
In other recent news, Radware reported quarterly earnings that surpassed both Barclays’ expectations and consensus estimates for revenue and earnings per share. As a result of these strong financial results, Barclays raised its price target for Radware from $30 to $35 while maintaining an Overweight rating. Additionally, Radware has signed agreements with four U.S.-based managed security service providers: Epcom World Industries, GLESEC, North Atlantic Networks, and Tech Pro. These agreements will enable the firms to incorporate Radware’s Cloud Application Protection Services into their offerings. North Atlantic Networks will also provide Radware’s Cloud DDoS Protection Services. These developments highlight Radware’s efforts to expand its cloud security offerings and strengthen its market position.
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