Targus Reports Operational Outage Due to Cyberattack

Targus, a renowned mobile gadget and bag manufacturer, is currently facing a “temporary interruption” to its business operations following a cyberattack that occurred on Friday. Its parent company, B. Riley Financial, disclosed the incident in a notice to regulators on Monday, revealing that a threat actor gained unauthorized access to certain file systems of Targus. As a response, much of Targus’ network has been shut down to isolate the incident, and recovery efforts are underway.

The disclosure of the cyberattack was made in compliance with a new rule by the U.S. securities regulator, which mandates public companies to report cyberattacks, including those affecting their subsidiaries, within 96 hours of discovery if they could have a material impact on investors.

Targus has not provided specific details about the nature of the interruption to its operations. It is common for companies to temporarily shut down their networks to prevent intruders from accessing sensitive data or other systems. The company has not offered a timeframe for when operations will return to normal.

It remains unclear whether any customer data was compromised in the cyberattack. Targus has stated that it will collaborate with law enforcement regarding the unauthorized access to information.

Established in 1983, Targus is a well-known brand in the mobile electronics industry, specializing in accessories and products for mobile devices. B. Riley Financial acquired Targus in a deal valued at approximately $250 million in 2022.

As of now, B. Riley Financial’s spokesperson, Jo Anne McCusker, has not provided any additional comments on the matter.