SolarWinds is spending as much as $25 million to implement security measures and to cover fees associated with a large-scale hack that compromised government and enterprise users of the software provider’s Orion network monitoring technology, CRN reported Thursday.
Sudhakar Ramakrishna, president and CEO of SolarWinds, told investors in a conference call Thursday he has briefed information technology leaders at customer organizations about the company’s breach investigations and steps to remediate the security incident.
Ramakrishna noted that the majority of customers he has spoken to have conducted software updates.
Barton Kalsu, chief financial officer at SolarWinds, said the cyberattack slightly impacted the company’s managed service provider business in January.
SolarWinds sales rose 9.3 percent from $932.5 million in 2019 to $1.02 billion in 2020.