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Sierra Wireless Resumes Production After Ransomware Recovery

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Anusuya Lahiri
·1 min read
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  • Sierra Wireless Inc (NASDAQ: SWIR) announced it had resumed production after gradual recovery of its internal systems following a recent ransomware attack on its internal IT systems and corporate website that led to temporarily halting production at its manufacturing facilities.

  • The company initiated countermeasures, including the engagement of cybersecurity law firm Blake, Cassels, and Graydon LLP and forensic investigation and cyber incident response firm KPMG.

  • Sierra has successfully addressed the attack and is working on the restoration of the internal IT systems based on discussion with its consultants. The company continued to investigate the incident and the extent of the impact on the internal IT systems.

  • Sierra Wireless’ clear separation between its internal IT systems and its customer-facing products and services safeguarded its products and connectivity services. Therefore, it did not expect any product security patch, or firmware, or software update requirement from the attack.

  • The U.S. government was tracking Microsoft Inc’s (NASDAQ: MSFT) emergency patch for previously unidentified susceptibilities in Exchange Server software following the recent email software server hack by Chinese hackers.

  • Price action: SWIR shares closed higher by 1.84% at $14.98 on Thursday.

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