IT services provider Sopra Steria estimates that a recent ransomware attack will have a financial impact ranging between €40M and €50M.
At the end of October, French IT outsourcer Sopra Steria has been hit by a ransomware attack. While the company did not reveal the family of malware that infected its systems, local media speculate the involvement of the Ryuk ransomware. The European IT firm has 46,000 employees operating in 25 countries worldwide. It provides a wide range of IT services, including software development and consulting.
Now the company estimates that a recent ransomware attack will have a financial impact ranging between €40 million ($48 million) and €50 million ($60 million).
In a new statement issued by Sopra Steria, the company confirmed that it has detected an attack involving the Ryuk ransomware on 21 October.
The internal cybersecurity staff rapidly blocked the threat and the measures implemented allowed the company to contain the virus to only a limited part of the Group’s infrastructure.
“At this stage, Sopra Steria has not identified any leaked data or damage caused to its customers’ information systems.” states the company.
“The secure remediation plan launched on 26 October is nearly complete. Access has progressively been restored to workstations, R&D and production servers, and in-house tools and applications. Customer connections have also been gradually restored.”
“The remediation and differing levels of unavailability of the various systems since 21 October is expected to have a gross negative impact on the operating margin of between €40 million and €50 million. The Group’s insurance coverage for cyber risks totals €30 million.” the company added.
The IT services provider said that sales activity for the fourth quarter should not be significantly affected by this event.
Sopra Steria expects to see negative organic revenue growth of between 4.5% and 5.0% (previously ‘between -2% and -4%’) for the financial year 2020. The company also estimates an operating margin on business activity of around 6.5% (previously ‘between 6% and 7%’), and free cash flow of between €50 million and €100 million (previously ‘between €80m and €120m’).”
(SecurityAffairs – hacking, Ryuk ransomware)
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Pierluigi Paganini
Pierluigi Paganini is member of the ENISA (European Union Agency for Network and Information Security) Threat Landscape Stakeholder Group and Cyber G7 Group, he is also a Security Evangelist, Security Analyst and Freelance Writer. Editor-in-Chief at “Cyber Defense Magazine”, Pierluigi is a cyber security expert with over 20 years experience in the field, he is Certified Ethical Hacker at EC Council in London. The passion for writing and a strong belief that security is founded on sharing and awareness led Pierluigi to find the security blog “Security Affairs” recently named a Top National Security Resource for US. Pierluigi is a member of the “The Hacker News” team and he is a writer for some major publications in the field such as Cyber War Zone, ICTTF, Infosec Island, Infosec Institute, The Hacker News Magazine and for many other Security magazines. Author of the Books “The Deep Dark Web” and “Digital Virtual Currency and Bitcoin”.
IT services provider Sopra Steria estimates that a recent ransomware attack will have a financial impact ranging between €40M and €50M.
At the end of October, French IT outsourcer Sopra Steria has been hit by a ransomware attack. While the company did not reveal the family of malware that infected its systems, local media speculate the involvement of the Ryuk ransomware. The European IT firm has 46,000 employees operating in 25 countries worldwide. It provides a wide range of IT services, including software development and consulting.
Now the company estimates that a recent ransomware attack will have a financial impact ranging between €40 million ($48 million) and €50 million ($60 million).
In a new statement issued by Sopra Steria, the company confirmed that it has detected an attack involving the Ryuk ransomware on 21 October.
The internal cybersecurity staff rapidly blocked the threat and the measures implemented allowed the company to contain the virus to only a limited part of the Group’s infrastructure.
“At this stage, Sopra Steria has not identified any leaked data or damage caused to its customers’ information systems.” states the company.
“The secure remediation plan launched on 26 October is nearly complete. Access has progressively been restored to workstations, R&D and production servers, and in-house tools and applications. Customer connections have also been gradually restored.”
“The remediation and differing levels of unavailability of the various systems since 21 October is expected to have a gross negative impact on the operating margin of between €40 million and €50 million. The Group’s insurance coverage for cyber risks totals €30 million.” the company added.
The IT services provider said that sales activity for the fourth quarter should not be significantly affected by this event.
Sopra Steria expects to see negative organic revenue growth of between 4.5% and 5.0% (previously ‘between -2% and -4%’) for the financial year 2020. The company also estimates an operating margin on business activity of around 6.5% (previously ‘between 6% and 7%’), and free cash flow of between €50 million and €100 million (previously ‘between €80m and €120m’).”
(SecurityAffairs – hacking, Ryuk ransomware)