Pivot Technology Solutions Inc. T.PTG

Pivot Hit By Cyber Attack - No Material Impact Anticipated

[wobbles]

This is no doubt the reason for today's SP price slip. It looks very minimal. The important things is Pivot's response and transparency in reporting it.

BRIEF-Pivot Technology Solutions, Inc. Provides Statement On Cybersecurity Incident

07/10/20 - 07:32 AM ET - Reuters

July 10 (Reuters) - Pivot Technology Solutions Inc:

* PIVOT TECHNOLOGY SOLUTIONS, INC. PROVIDES STATEMENT ON CYBERSECURITY INCIDENT

* PIVOT TECHNOLOGY SOLUTIONS INC - UNAUTHORIZED THIRD-PARTY ATTEMPTED TO ENCRYPT PIVOT’S TECHNOLOGY INFRASTRUCTURE AND EXTRACT DATA

* PIVOT TECHNOLOGY SOLUTIONS INC - BELIEVES THAT INCIDENT WILL HAVE NO MATERIAL IMPACT ON ITS CUSTOMERS OR SUPPLIERS, OR OTHERWISE ON ITS OPERATIONS

* PIVOT TECHNOLOGY SOLUTIONS INC - PIVOT IMMEDIATELY IMPLEMENTED COUNTERMEASURES TO MINIMIZE ENCRYPTION OF ITS SYSTEMS

* PIVOT TECHNOLOGY SOLUTIONS INC - PIVOT’S BUSINESS OPERATIONS WERE NOT INTERRUPTED

* PIVOT TECHNOLOGY SOLUTIONS INC - BELIEVES INCIDENT WILL HAVE NO MATERIAL IMPACT ON ITS CUSTOMERS OR SUPPLIERS, OR OTHERWISE ON ITS OPERATIONS

* PIVOT TECHNOLOGY SOLUTIONS INC - PIVOT HAS DETERMINED THAT SOME DATA ON ITS SYSTEMS WAS EXPOSED

* PIVOT TECHNOLOGY SOLUTIONS - TAKING STEPS TO MITIGATE RISK OF UNAUTHORIZED USE OF CONFIDENTIAL DATA INCLUDING PROMPTLY NOTIFYING AFFECTED PARTIES Source text for Eikon: Further company coverage:

 

[narmac]

,,,,I would have thought Pivot would be leaps and bounds ahead of the hackers,,,,Perhaps this issue will cause us to have more focus on the criminal side of the equation. Best for long term safety for the company and our clients!

[wobbles]

After a career in IT, I learned how many variables there are in threat scenarios. Without knowing the nuts and bolts of what occurred, it can be very easy to leave yourself vulnerable. I don't mean it is okay to miss detecting and closing vulnerabilities, quite the opposite. It can be as fine tuned as being hit just before your schedule planned security patches in a day or two. Like you say

[HeavyMetalFacts]

There has to be some concern and we wont know until they fill in the details.    The press release you quoted repeats the "no materila impact" bullet which indicates they threw this together in a hurry.   Once they reveal the extent of the breach it will be possible to guess what the impact on the business will be.    And more importatnly for us, the impact

[wobbles]

HeavyMetalFacts - You could be correct in your assertion that the damage is more than stated. The one thing I will say is that I like this initial PR about it. At the time of release, the lights were still on as they continued their discovery of "what and how much". I've been through a few of those. Sh*t happens. Sometimes it is fairly easy to gauge the scope early on; sometimes not.

[HeavyMetalFacts]

I hope you are correct about the new stuff Pivot is up to.    I bought back in the day just because of the dividend and the fact that the original management team felt so good about the company that they offered a very generous buy out (which was turned down).   Not the most sophisticated way to value a company but it has worked out great so far.

[wobbles]

The dividend is definitely a huge attraction. The combination of yield with anticipated profits from Edge Computing is why I have a hefty percentage of PTG. It's the fact that they are so aligned with what Intel is doing that I think growth in profitabily is ahead. For them to be where they at this time, while the USA is quite truthfully in an ever-increasing sh-*-thole of ipandemic driven