Targus says a cyber attack causes operational disruptions

Mobile gadget and bag maker Targus says it is experiencing a “temporary disruption” to its business operations after a cyber attack on Friday.

In a message to regulators on Monday, Targus’ parent company, B. Riley Financial, said it discovered that “a threat actor had gained unauthorized access to certain Targus file systems” and shut down much of its network to isolate the incident.

“The incident has been contained and restoration of the Targus systems is underway,” the statement said.

Details of the Targus cyber attack are now public thanks to a new US securities regulator rule that requires publicly traded companies to disclose cyber attacks – including on their subsidiaries – that could have a material impact on investors within 96 hours of discovery.

Targus did not say what kind of disruption to its operations it was experiencing. It is not uncommon for companies to shut down their networks to prevent intruders from accessing other systems or sensitive data. The company did not provide a timetable for when operations would return to normal.

It is unknown whether any Targus customer data was stolen in the breach, but the company said it will “cooperate with law enforcement regarding the unauthorized access of information.”

Founded in 1983, Targus is a popular mobile electronics brand and accessories manufacturer. B. Riley acquired Targus in a 2022 deal worth about $250 million.

When reached by email, a spokesperson for B. Riley did not immediately comment.