DataBreaches.Net

Menu
  • About
  • Breach Notification Laws
  • Privacy Policy
  • Transparency Report
Menu

Security Breach Puts Altegrity’s Integrity And Liquidity On The Line

Posted on September 29, 2014 by Dissent

Kate Marino reports:

Hackers have claimed some high-profile corporate victims over the last year, with household names like Target and Home Depot typically reaping the lion’s share of media attention. Cyber attacks represent a growing threat to the business world, and their fallout could cost the global economy as much as $3 trillion by 2020, according to a McKinsey & Co. report.

While the two retail giants may have the wherewithal to absorb the earnings hiccups that invariably accompany a security breach, smaller and more highly levered companies won’t always be so fortunate. Take Altegrity, the government contractor owned by Providence Equity Partners that’s now dealing with the blowback of a cyber-attack in one of its units, US Investigations Services (USIS).

A month after the early August announcement of the attack, one of Altegrity’s major customers, the government’s Office of Personnel Management (OPM) announced it would not extend its contracts with USIS past their current September 30 expirations. The OPM contracts represent about 10 percent of Altegrity’s annual EBITDA, lending sources tell Debtwire. And besides the obvious negative of the earnings loss, the hefty cancellation also raises the prospect that other customers will follow suit.

Read more on Forbes.

No related posts.

Category: Business SectorCommentaries and AnalysesHackOf NoteU.S.

Post navigation

← UK: Ardrossan cop breaches Data Protection Act but avoids prosecution
Flowers Hospital data breach suit: Plaintiffs to amend complaint →

Now more than ever

"Stand with Ukraine:" above raised hands. The illustration is in blue and yellow, the colors of Ukraine's flag.

Search

Browse by Categories

Recent Posts

  • Five youths arrested on suspicion of phishing
  • Russia Jailed Hacker Who Worked for Ukrainian Intelligence to Launch Cyberattacks on Critical Infrastructure
  • Kentfield Hospital victim of cyberattack by World Leaks, patient data involved
  • India’s Max Financial says hacker accessed customer data from its insurance unit
  • Brazil’s central bank service provider hacked, $140M stolen
  • Iranian and Pro-Regime Cyberattacks Against Americans (2011-Present)
  • Nigerian National Pleads Guilty to International Fraud Scheme that Defrauded Elderly U.S. Victims
  • Nova Scotia Power Data Breach Exposed Information of 280,000 Customers
  • No need to hack when it’s leaking: Brandt Kettwick Defense edition
  • SK Telecom to be fined for late data breach report, ordered to waive cancellation fees, criminal investigation into them launched

No, You Can’t Buy a Post or an Interview

This site does not accept sponsored posts or link-back arrangements. Inquiries about either are ignored.

And despite what some trolls may try to claim: DataBreaches has never accepted even one dime to interview or report on anyone. Nor will DataBreaches ever pay anyone for data or to interview them.

Want to Get Our RSS Feed?

Grab it here:

https://databreaches.net/feed/

RSS Recent Posts on PogoWasRight.org

  • On July 7, Gemini AI will access your WhatsApp and more. Learn how to disable it on Android.
  • German court awards Facebook user €5,000 for data protection violations
  • Record-Breaking $1.55M CCPA Settlement Against Health Information Website Publisher
  • Ninth Circuit Reviews Website Tracking Class Actions and the Reach of California’s Privacy Law
  • US healthcare offshoring: Navigating patient data privacy laws and regulations
  • Data breach reveals Catwatchful ‘stalkerware’ is spying on thousands of phones
  • Google Trackers: What You Can Actually Escape And What You Can’t

Have a News Tip?

Email: Tips[at]DataBreaches.net

Signal: +1 516-776-7756

Contact Me

Email: info[at]databreaches.net

Mastodon: Infosec.Exchange/@PogoWasRight

Signal: +1 516-776-7756

DMCA Concern: dmca[at]databreaches.net
© 2009 – 2025 DataBreaches.net and DataBreaches LLC. All rights reserved.