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40-F
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VANCOUVER, British Columbia--(BUSINESS WIRE)--March 26, 2021--Sierra Wireless (NASDAQ: SWIR) (TSX: SW), the world’s leading IoT solutions provider, today announced that the company has resumed production and started to recover its internal systems following a ransomware attack on its internal IT systems and corporate website.
As announced on March 23, 2021, Sierra Wireless was the subject of a ransomware attack on its internal IT systems and corporate website, and temporarily halted production at its manufacturing sites. The company has resumed production and started to recover its internal systems.
Once the company learned of the attack, its IT and operations teams immediately implemented measures to counter the attack. In addition, within hours of discovery, Sierra Wireless engaged Blake, Cassels and Graydon LLP, one of the leading cyber security law firms, as breach coach and legal counsel, and KPMG, one of the world’s leading forensic investigation and cyber incident response firms, to lead Sierra Wireless’ response and investigation into the incident.
Sierra Wireless’ team, with the assistance of additional third-party advisors, believe they have addressed the attack and are currently working to restore Sierra Wireless’ internal IT systems. They continue to investigate the incident and the extent of the impact on the company’s internal IT systems.
“Security is a top priority, and Sierra Wireless is committed to taking all appropriate measures to ensure the highest integrity of all of our systems,” said Sam Cochrane, Chief Financial Officer, Sierra Wireless who also oversees IT operations and supply chain. “I’m proud of the efforts of our IT team and external advisors as they have mitigated the attack and made real progress in getting operations up and running. As the investigation continues, Sierra Wireless commits to communicating directly to any impacted customers or partners, whom we thank for their patience as we work through this situation.”
Sierra Wireless maintains a clear separation between its internal IT systems and its customer-facing products and services. Sierra Wireless believes that the impact of the attack was limited to Sierra Wireless’ internal systems and corporate website, and that its products and connectivity services were not impacted, and its customers’ products and systems were not breached during the attack. At this point in its investigation of the ransomware attack, the company does not expect there to be any product security patches, or firmware or software updates required as a result of the attack.
Additional Resources
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; our understanding of the extent of the breach; 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.
Louise Matich
Sierra Wireless
Media Relations
phone: +1 236 979 2154
pr@sierrawireless.com
David Climie
Sierra Wireless
Investor Relations
phone: +1 604 321 1137
dclimie@sierrawireless.com
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Sierra Wireless, Inc.
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By:
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/s/ Samuel Cochrane
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Samuel Cochrane, Chief Financial Officer
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Date: March 26, 2021
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