AKVA has found root cause of cyber-attack, police are still investigating

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Company will incur significant non-recurring costs.

On Sunday 10th of January, AKVA group was the subject of a cyber-attack that took down several key systems.

In an update on the Oslo Stock Exchange on Monday morning, the aquaculture equipment supplier writes that its technical team, with support from external expertise, has detected the root cause of the system shut-down and will gradually restore the IT systems.

“Further information about the incident and the remedies deployed will not be made available as the police is still investigating the incident,” it wrote.

AKVA said that it has made significant efforts to review IT security and ensure a secure operating environment for the group’s IT systems.

It added that its subsidiaries will be operative while restarting the IT systems, but manual operations will still be required for a period.

“It is too early to assess the financial impact of the cyber-attack, but the company will incur significant non-recurring costs during Q1 2021 related to the cyber-attack and mitigating measures,” added AKVA.