RTTNews | Mar 23, 2021 10:30AM EDT

10:29 Tuesday, March 23, 2021 (RTTNews.com) - Shares of IoT solutions provider Sierra Wireless, Inc. (SWIR) are falling more than 12% Tuesday morning after the company withdrew its first quarter outlook it provided on February 23, due to ransomware attack on its internal IT systems.

The company has halted production at its manufacturing sites as its internal IT systems was hit by ransomware on March 20, 2021.

Sierra said that its technical team has addressed the issue and are working on bringing back its internal IT systems online. The company said it will restart the manufacturing process once its website and other internal operations, that are disrupted, resume normal operations.

At this point Sierra believes that the impact of the attack is limited to Sierra Wireless systems, as it maintains a clear division between its internal IT systems and customer facing products and services, the company said.

SWIR, currently at $15.22, has been trading in the range of $4.83- $22.22 in the last one year.

Read the original article on RTTNews ( https://www.rttnews.com/3179551/stock-alert-sierra-wireless-dips-12-as-co-withdraws-outlook-following-ransomware-attack.aspx)

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