ScanSource Provides Information on Cybersecurity Incident

Rhea-AI Summary

ScanSource, Inc. announces ransomware attack on its systems. The company is actively managing the incident and working towards remediation. It is also collaborating with forensic and cybersecurity experts to investigate the extent of the incident.

Positive

• ScanSource is actively managing the incident and working towards remediation.
• The company is collaborating with forensic and cybersecurity experts to investigate the extent of the incident.

Negative

• None.

GREENVILLE, S.C.--(BUSINESS WIRE)-- ScanSource, Inc. (NASDAQ: SCSC), a leading hybrid distributor connecting devices to the cloud, today announced that it was subject to a ransomware attack that has impacted some of its systems. Upon discovering the incident on May 14, 2023, the Company immediately launched an investigation and implemented its Incident Response Plan.

ScanSource is actively managing the incident and is taking steps toward remediation. The Company is working closely with forensic and cybersecurity experts to investigate the extent of the incident, minimize disruption and mitigate the situation. ScanSource has notified law enforcement authorities.

The security of its systems, as well as the impact on its employees, customers and suppliers is of utmost importance to ScanSource. The Company is working diligently to bring affected systems back online, while also mitigating the impact on its business. ScanSource regrets any inconvenience or delays in business this may cause customers and suppliers in North America and Brazil and appreciates their patience.

ScanSource is working quickly to get its business fully operational.

Cautionary Statements Regarding Forward-Looking Information

Our expectations with regard to resolving the issues are forward-looking statements, and actual results could be materially different due to a number of factors, including our ability to successfully restore IT functionality in the affected systems.

About ScanSource, Inc.

ScanSource, Inc. (NASDAQ: SCSC) is a leading hybrid distributor connecting devices to the cloud and accelerating growth for customers across hardware, SaaS, connectivity and cloud. ScanSource enables customers to deliver solutions for their end users to address changing buying and consumption patterns. ScanSource sells through multiple, specialized routes-to-market with hardware, SaaS, connectivity and cloud services offerings from the world’s leading suppliers of point-of-sale (POS), payments, barcode, physical security, unified communications and collaboration, telecom and cloud services. Founded in 1992 and headquartered in Greenville, South Carolina, ScanSource was named one of the 2022 Best Places to Work in South Carolina and on FORTUNE magazine’s 2023 List of World’s Most Admired Companies. ScanSource ranks #773 on the Fortune 1000. For more information, visit www.scansource.com.

View source version on businesswire.com: https://www.businesswire.com/news/home/20230516005990/en/

Melissa Andrews

Director of Corporate Communications

Melissa.Andrews@scansource.com

Source: ScanSource, Inc.

FAQ

What is the news about?

The news is about ScanSource, Inc. being subject to a ransomware attack on its systems.

What is ScanSource doing about the incident?

ScanSource is actively managing the incident and working towards remediation. It is also collaborating with forensic and cybersecurity experts to investigate the extent of the incident.

What could be the impact of the incident?

The impact of the incident on the company's systems, employees, customers, and suppliers is being mitigated. However, there may be inconvenience or delays in business for customers and suppliers in North America and Brazil.

Is there any expectation for resolving the issues?

The expectation for resolving the issues is forward-looking, and actual results could be materially different. It depends on the company's ability to successfully restore IT functionality in the affected systems.