Cyberattack disrupts Targus business operations

Mobile computing accessories company Targus has disclosed a cyberattack that interrupted its business operations.

On April 5th, 2024, Targus International and certain affiliates discovered that a threat actor gained unauthorized access to some of Targus’ file systems, according to the filing with the US Securities and Exchange Commission.

Targus specializes in laptop and tablet cases and is a privately owned subsidiary of B. Riley Financial, an American financial services company.

“Upon discovery and with assistance from external cybersecurity counsel and consultants, Targus immediately activated its incident response and business continuity protocols to investigate, contain, and remediate the incident. Through this process, proactive containment measures to disrupt unauthorized access resulted in a temporary interruption in the business operations of the Targus network,” B. Riley Financial said in a FORM 8-K filing.

Targus has contained the incident and is currently undertaking recovery efforts for its systems. It’s not yet clear who might be responsible for the cyberattack.

As of April 8th, the date of this filing, B. Riley Financial did not believe that the incident would materially impact the group’s financial condition or the results of operations taken as a whole.

“Last year, Targus was not a significant contributor to the Company’s Operating Adjusted EBITDA,” B. Riley Financial said. “Business operations for each of the Company’s other subsidiaries have continued without disruption in all material respects, and no other Company business has been affected.”