Maze Ransomware attack to hit Cognizant revenue

Mumbai: IT services provider Cognizant revenue may be impacted by the Maze ransomware attack last week, the company said in a disclosure made to the US Securities and Exchange Commission.

“Although we are in the early stages of assessing this incident, the attack has caused and may continue to cause an interruption in parts of our business and may result in a loss of revenue and incremental costs that may adversely impact our financial results,” the company said in a filing.

In its forward looking statement the company said the ongoing assessment may determine the extent of impact on the financial results going ahead, “Factors that could cause actual results to differ materially from those expressed or implied include the ongoing assessment of the ransomware attack, legal, reputational and financial risks resulting from cyberattacks, including the ransomware attack, the effectiveness of business continuity plans during the ransomware attack and the COVID-19 pandemic, and the other factors discussed in our most recent Annual Report on Form 10-K and other filings with the Securities and Exchange Commission.”