Sopra Steria the IT services firm has announce that the ransomware attack which it reported in October 2020 will have a negative impact on its

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Sopra Steria the IT services firm has announce that the ransomware attack which it reported in October 2020 will have a negative impact on its balance sheet of between €40million and €50million. With Insurance coverage for cyber risk of €30 million, it will be interesting to see if they get a full pay-out or not.

The company supports a diverse portfolio of sectors, including Government, Financial Services, Telecoms, Aerospace and Defence which themselves are heavily regulated and rely on secure IT services. Whilst 4th quarter revenues have not been impacted, I wonder what the longer term impact of the attack will be?

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