MASSIVE CYBER ATTACK FORCES TARGUS NETWORK SHUTDOWN

Targus, a manufacturer of bags and accessories for mobile devices, has faced operational issues after experiencing cyber attacks in April. In a statement released recently by B. Riley Financial, Targus’ parent company, it was revealed that there was unauthorized access to some Targus files, leading to the disconnection of most of its network to contain the incident.

The company assured that the situation is now under control, with efforts ongoing to restore Targus’ systems. However, specific details on the affected operations and the timeline for returning to normalcy were not provided.

The disclosure of the cyber attacks was made possible by a new regulation mandated by the US securities regulator. This rule requires public companies to report any cyber attacks on their subsidiaries that could have a significant impact on investors within 96 hours of detection.

While it remains unclear if Targus customers’ data were compromised during the breach, the company stated its intention to cooperate with law enforcement authorities to address the unauthorized access to information.

Established in 1983, Targus is a well-known brand in the mobile electronics and accessories industry. B. Riley acquired Targus for around $250 million in 2022.

This incident highlights the critical importance of robust cybersecurity measures in today’s business landscape. Despite advancements in technology and brand popularity, large companies like Targus are not immune to cyber threats.

It is crucial for managers to prioritize information system security and continuously enhance protective measures to prevent such attacks and minimize their impact. This is essential for upholding customer and investor trust in the face of increasing cyber risks.