Security News > 2020 > November > Financial Impact of Ransomware Attack on Sopra Steria Could Reach €50 Million
European IT services provider Sopra Steria estimates that a recent ransomware attack will have a financial impact ranging between €40 million and €50 million.
Sopra Steria revealed one month ago that some of its systems were infected with a new variant of the Ryuk ransomware, which is believed to have been used by Russian cybercriminals.
"The secure remediation plan launched on 26 October is nearly complete. Access has progressively been restored to workstations, R&D and production servers, and in-house tools and applications. Customer connections have also been gradually restored," Sopra Steria said.
"After including the items mentioned above, for financial year 2020 Sopra Steria expects to see negative organic revenue growth of between 4.5% and 5.0%, an operating margin on business activity of around 6.5%, and free cash flow of between €50 million and €100 million," Sopra Steria explained.
Sopra Steria offers a wide range of IT services, including consulting, technology, software, system integration, business process, infrastructure management and cybersecurity.
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