As reported in October 2020, Sopra Steria, a renowned French IT services provider, confirmed that its systems were targeted with a ransomware attack in October, which cost it a loss of tens of millions of dollars.
In its latest update on the incident, the Paris-based IT firm acknowledged that a new variant of the Ryuk malware family was used to hit its systems. As a result of the ransomware attack, the company’s services were disrupted while its systems went offline.
See: Ragnar Locker ransomware gang using Facebook ads to extort victims
The company stated that it ‘rapidly’ blocked the ransomware attack; however, it had to bear heavy financial losses post the attack.
“The measures implemented immediately made it possible to contain the virus to only a limited part of the group’s infrastructure and to protect its customers and partners,” the IT firm stated.
The company admitted that the ransomware attack left a negative impact on its operating margin, which remained between €40 million and €50 million, while its insurance coverage for cyberattacks is EUR 30 million.
Sopra Steria claims that its negative organic revenue growth for 2020 may increase to up to 5% compared to last year’s 2-4%.
As far as free cash flow is concerned, the French IT firm states that it will most likely be between €50 millio ..
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