Sierra Wireless Announces Ransomware Attack
Sierra Wireless (NASDAQ: SWIR) reported a ransomware attack on its internal IT systems on March 20, 2021, impacting manufacturing and operations. The company immediately activated cybersecurity protocols and believes the attack mainly affected internal systems, with no immediate threat to customer-facing products. Production has been halted, and the company has withdrawn its First Quarter 2021 guidance. Sierra Wireless is currently working to restore its IT systems and resume operations, asking for patience from customers and partners during this recovery period.
- Quick implementation of cybersecurity measures following the ransomware attack.
- No impact on customer-facing products and services, maintaining operational integrity in that area.
- Production halted at manufacturing sites due to ransomware attack.
- Withdrawal of First Quarter 2021 guidance, indicating potential financial uncertainty.
Sierra Wireless (NASDAQ: SWIR) (TSX: SW), the world’s leading IoT solutions provider, today announced that it discovered it was the subject of a ransomware attack on its internal IT systems on March 20, 2021.
Once the company learned of the attack, its IT and operations teams immediately implemented measures to counter the attack in accordance with established cybersecurity procedures and policies that were developed in collaboration with third-party advisors. These teams, with the assistance of these and additional third-party advisors, believe they have addressed the attack, and are currently working to bring Sierra Wireless’ internal IT systems back online.
At this time, Sierra Wireless believes the impact of the attack was limited to Sierra Wireless systems, as the company maintains a clear separation between its internal IT systems and customer facing products and services.
As a result of the ransomware attack, Sierra Wireless halted production at its manufacturing sites. The company’s website and other internal operations have also been disrupted by the attack. The company believes it will restart production at these facilities and resume normal operations soon. In the meantime, Sierra Wireless asks its customers and partners for their patience as it seeks to remediate the situation.
Due to these disruptions, Sierra Wireless is at this time withdrawing the First Quarter 2021 guidance it provided on February 23, 2021.
About Sierra Wireless
Sierra Wireless (NASDAQ: SWIR) (TSX: SW) is the leading IoT solutions provider that combines devices, network services and software to unlock value in the connected economy. Companies globally are adopting IoT to improve operational efficiency, create better customer experiences, improve their business models and create new revenue streams. Whether it is an integrated solution to help a business securely connect edge devices to the cloud, or a software/API service to help manage processes associated with billions of connected assets, or a platform to extract real-time data to make the best business decisions, Sierra Wireless will work with you to develop the right industry-specific solution for your next IoT endeavor. Sierra Wireless operates a 24/7/365 Global Network Operation Center (GNOC) and R&D centers in North America, Europe and Asia. For more information, visit www.sierrawireless.com.
Connect with Sierra Wireless on the IoT Blog at http://www.sierrawireless.com/iot-blog, on Twitter at @SierraWireless, on LinkedIn at https://www.linkedin.com/company/sierra-wireless and on YouTube at https://www.youtube.com/SierraWireless.
“Sierra Wireless” is a registered trademark of Sierra Wireless. Other product or service names mentioned herein may be the trademarks of their respective owners.
Forward Looking Statements
This press release contains forward-looking statements that involve risks and uncertainties. These forward-looking statements relate to, among other things, our efforts to remediate the ransomware incident; our ongoing systems recovery efforts; statements as to the impact of the ransomware incident on our business operations; express or implied statements relating to our ability to manage the ransomware incident and other statements contained in this press release that are not historical fact. When used in this press release, the words "plan", "expect", "believe", and similar expressions generally identify forward-looking statements. These statements reflect our current expectations. Factors that could cause actual results to differ materially from those expressed or implied include the ongoing assessment of the incident; adverse legal, reputational and financial effects on the Company resulting from the incident or additional cyber incidents, and the effectiveness of the Company’s business continuity plans during the ransomware incident. Our business is also subject to a number of risks and uncertainties, including, but not limited to, changes in technology and changes in the wireless data communications market. In light of the many risks and uncertainties surrounding the wireless data communications market, you should understand that we cannot assure you that the forward-looking statements contained in this press release will be realized.
View source version on businesswire.com: https://www.businesswire.com/news/home/20210323005460/en/
FAQ
What event occurred at Sierra Wireless on March 20, 2021?
How did Sierra Wireless respond to the ransomware attack?
What impact did the ransomware attack have on production?
Has Sierra Wireless withdrawn its financial guidance?
Is there any immediate threat to customer-facing products from the ransomware attack?
