As communicated yesterday, Addtech AB is subject to cyber crime that affects the company's IT systems and operations. Approximately 80 of Addtech's 130 companies are affected by the attack.
Since the attack started yesterday, the company, supported by external experts, has full focus on restoring systems to normal operations and assessing the full scope of impact. To mitigate effects, IT systems were shut down and alternative solutions are being implemented. Some systems have already been restored and the plan is for the first affected companies to be up and running within the next couple of days.
"The recovery is progressing according to plan. Our organizations are working intensively to minimize customer impact and impact on operations. I am impressed to see how hard our teams work to manage the situation. I am confident that our decentralized organizational model is an advantage for us as our companies have already switched to offline mode to handle the situation in the best possible way," says Niklas Stenberg, President and CEO of Addtech.
Approximately 80 of Addtech's 130 companies are affected by the attack, estimated to some 50 percent of sales. At present, the scale of potential data loss is being investigated. It is yet too early to communicate the financial impact of the attack, which has been reported to the Swedish police.
The company will provide further updates as significant new information is available, and in addition provide regular operational updates to our customers.
For further questions, contact Head of Communciations:
+46 708 707 168
Stockholm October 31, 2019
Addtech is a technology trading group that provides technological and economic value added in the link between manufacturers and customers. Addtech operates in selected niches in the market for advanced technology products and solutions. Its customers primarily operate in the manufacturing industry and infrastructure. Addtech has about 2,700 employees in more than 130 subsidiaries that operate under their own brands. The Group has annual sales of about SEK 10 billion. Addtech is listed on Nasdaq Stockholm.
This information was submitted for publication on October 31, 2019 at 14.45 p.m (CET).
This information was distributed by Cision http://www.cisionwire.se/