Sangoma Technologies Provides Update on Ransomware Attack, Expects No Material Impact on Sales
Sangoma Technologies Corporation, a trusted leader in delivering cloud-based Communications as a Service (CaaS) solutions, provided a further update regarding its ongoing investigation into the data breach.
Sangoma has not experienced any service interruptions or outages as a result of the cyber attack that targeted the Company, and all customers continue to use the full suite of Sangoma’s products and services, normally. In addition to the Company’s own investigation, a highly experienced team of third-party cybersecurity experts has to date, uncovered no indication of security threats related to the cyber attack that could create any additional risk for Sangoma’s customers from using our products, nor any evidence to suggest that any intellectual property has been compromised.
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“While this cyber attack has admittedly created a significant amount of work for us, the most important thing I’d like to stress to our investors is that our underlying business has not changed at all and remains strong,” said Bill Wignall, President and CEO of Sangoma. “We continue to receive and process orders normally, our existing customers continue to use our products without interruption, we continue to win new subscribers as usual, we’re still building out our CaaS cloud solutions and there has been no change in our support to our clients. Importantly, we have seen no discernible impact on order flow since December 24, and as a result, we currently do not expect that the cyber attack will have any material impact on sales or on opportunities in our pipeline.”
Mr. Wignall continued: “Our Company remains focused on delivering sustainable growth and profit while executing on the exciting acquisition opportunities in front of us. Of course, we continue to work with urgency to complete our investigation into this incident, and we’ve taken numerous actions to support those whose information was compromised in the resulting data breach. I’m highly confident that Sangoma will emerge from this incident stronger than ever, and I look forward to providing a detailed update when we report our second-quarter results next month.”
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As described in the news release of December 29, Sangoma’s investigation has confirmed that the attackers encrypted, copied, and published a significant number of confidential files relating to the Company’s financial information, its corporate development efforts, certain private employee data, as well as some customer information and ordering history. There continues to be no evidence that the compromised customer information includes bank account or payment card data.
Sangoma has taken immediate action to mitigate and manage the impact of this attack. In addition to retaining a team of third-party cybersecurity experts to assist its investigation, the Company has filed a report with law enforcement officials and deployed additional security measures to assist in detecting and preventing any future attempts or incidents of unauthorized access to or malicious activity on its corporate network. Further, the Company has updated its employees regularly regarding the incident and the possible impact on the security of their personal data, has provided them with actions they can take to protect their personal information from misuse, and is rolling out 24 months of credit and dark-web monitoring and identity theft insurance at the Company’s expense. Finally, Sangoma has been in proactive contact with our customers (as well as other third parties whose data was compromised), to provide clear information as well as appropriate support, and will continue to do so.
Mr. Wignall concluded: “I’d like to thank our customers, employees, partners and shareholders for their patience and support throughout this stressful time. We have received inquiries from a few investors seeking an update on the ransomware attack, and we felt this approach would ensure all stakeholders receive the same information, at the same time. Sangoma will remain as responsive as ever and we will continue providing factual, accurate information as it becomes available and appropriate to share, during our ongoing investigation.”