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 * Cybersecurity


WHAT IS CROWDSTRIKE, THE CYBERSECURITY FIRM BEHIND A GLOBAL TECH OUTAGE?

By Reuters
July 19, 20248:04 PM GMT+2Updated 3 days ago
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July 19 (Reuters) - Companies across several industries including airlines,
banking and media were hit on Friday by a global tech outage tied to Microsoft's
(MSFT.O), opens new tab Azure cloud platform and a software issue at
cybersecurity firm CrowdStrike (CRWD.O), opens new tab.
The issue impacted computers running the Windows operating system and
CrowdStrike software. CrowdStrike said it was working with impacted customers
and had deployed a fix for the issue, which stemmed from an update it issued for
Windows users.
Advertisement · Scroll to continue

Here are a few key details about CrowdStrike:
WHAT IS CrowdStrike?
CrowdStrike offers cloud-based security solutions to businesses. Its Falcon tool
- one of the reasons for the outage on Friday - identifies unusual behavior and
vulnerabilities to protect computer systems from threats such as malware.
Founded in 2011 and based in Austin, Texas, CrowdStrike operates in more than
170 countries and employed more than 7,900 people as of January.
Advertisement · Scroll to continue

Item 1 of 2 A person with luggage waits at BER airport following a global IT
outage, in Berlin, Germany, July, 19, 2024. REUTERS/Nadja Wohlleben
[1/2]A person with luggage waits at BER airport following a global IT outage, in
Berlin, Germany, July, 19, 2024. REUTERS/Nadja Wohlleben Purchase Licensing
Rights, opens new tab

The U.S. accounted for nearly 70% of the more than $900 million in revenue it
reported for the quarter ended April.


WHO ARE CROWDSTRIKE'S MAJOR CLIENTS AND COMPETITORS?

Some of the world's biggest tech companies including Alphabet's (GOOGL.O), opens
new tab Google, Amazon (AMZN.O), opens new tab and Intel (INTC.O), opens new tab
are its customers. It has about 29,000 customers across the globe.
Its presence spans several sectors with clients including retail giant Target
(TGT.N), opens new tab, Formula One team Mercedes-AMG PETRONAS and the U.S.
government.

CrowdStrike competes with companies such as Palo Alto Networks (PANW.O), opens
new tab, Zscaler (ZS.O), opens new tab and Fortinet (FTNT.O), opens new tab.
CrowdStrike'S STOCK VERSUS PEERS
Shares of CrowdStrike tumbled nearly 12% in premarket trading on Friday. As of
Thursday's close, CrowdStrike had a market value of $83.5 billion, with its
stock price up 34% this year, according to LSEG data. In comparison, Palo Alto
Networks' stock has gained about 10% year-to-date, with a market capitalization
of $104.87 billion.

The Technology Roundup newsletter brings the latest news and trends straight to
your inbox. Sign up here.

Reporting by Deborah Sophia and Zaheer Kachwala in Bengaluru

Our Standards: The Thomson Reuters Trust Principles., opens new tab

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 * BusinesscategoryUS regulator privately finds weak risk-management at half of
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   Businesscategory · July 22, 2024 · 1:54 PM GMT+2 · 7 min ago
   
   Delta Air Lines canceled more than 600 flights on Monday, as the U.S. air
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 * TechnologycategoryCrowdStrike shares set to extend losses as outage effects
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