TORONTO, July 10, 2020 /CNW/ - Pivot Technology Solutions,
Inc. (TSX: PTG), ("Pivot", "Company"), a full-service
information technology provider, confirms that the Company recently
experienced a cybersecurity incident ("Incident") in which
an unauthorized third-party attempted to encrypt Pivot's technology
infrastructure and extract data. Upon detection of the
Incident, Pivot immediately implemented countermeasures to
minimize the encryption of its systems. As a result, Pivot's
business operations were not interrupted.
In response to this Incident, Pivot engaged industry-leading
cyber forensic experts who are assisting with remediation and
investigating the extent of any data compromise. At the present
time, Pivot has determined that some data on its systems was
exposed and it is taking steps to mitigate the risk of
unauthorized use of confidential information including promptly
notifying the affected parties. Based on the preliminary
results of the investigation, Pivot believes that the Incident will
have no material impact on its customers or suppliers, or otherwise
on its operations.
Kevin Shank, President and CEO,
Pivot Technology Solutions, Inc. said, "I'm pleased to see the
Pivot security team's response to the encryption attack. The team's
quick action allowed us to continue with normal business
operations. Safeguarding data is one of our most important
responsibilities and we are implementing additional security
measures as a result of this incident. Pivot will continue to
invest and implement leading-edge technologies to protect its
systems and data from the ever-growing cybersecurity threats."
ABOUT PIVOT TECHNOLOGY SOLUTIONS
Pivot is an industry-leading information technology services and
solutions provider to many of the world's most successful
companies, including members of the Fortune 1000, as well as
governments and educational institutions. By leveraging its
extensive original equipment manufacturer (OEM) partnerships and
its own fulfillment, professional, deployment, workforce and
managed services, Pivot supports the IT infrastructure needs of its
clients. For more information, visit www.pivotts.com.
FORWARD-LOOKING STATEMENTS
This news release may contain statements that to the extent,
they are not recitations of historical fact, may constitute
"forward-looking statements" within the meaning of applicable
Canadian securities laws, including the statements with respect to
the Company's belief that the incident will not have a material
impact on customers, suppliers or otherwise on its
operations, and the implementation of leading-edge
technologies to protect the Company's systems. Any
such forward-looking statements are based on assumptions and
analyses made by Pivot in part based on analyses of cyber
forensic experts. However, whether actual results and developments
will conform to Pivot's expectations and predictions is subject to
any number of risks and uncertainties, and are based on the
assumptions that the Company's analysis and that of its experts
accurately identified the data compromised in the attack, and that
the steps taken by the Company to mitigate the risk of unauthorized
use will be effective. Many factors could cause Pivot's actual
results to differ materially from those expressed or implied by the
forward-looking statements contained in this news release,
including the risk that the customer, supplier and other
information that was compromised may have a material impact on
certain customers and suppliers or otherwise on its operations, and
thereby risk impairing the Company's relationships with customers
and suppliers, the risk of unauthorized use of confidential
information, the risk of a material impact on its operations,
and the risk the implementation of new technologies by the Company
will not be effective in precluding future cybersecurity
attacks. There is no certainty that the Company will
not be adversely affected by the cybersecurity incident
notwithstanding the remediation and mitigation steps undertaken by
the Company. The "forward-looking statements" contained
herein speak only as of the date of this news release and, unless
required by applicable law, the Company undertakes no obligation to
publicly update or revise such information, whether as a result of
new information, future events or otherwise.
SOURCE Pivot Technology Solutions, Inc