TeamViewer slumps after disclosing a cyberattack

Investing.com - TeamViewer (ETR:TMV) stock fell sharply Friday, after the German software company warned on Thursday that its corporate environment was breached in a cyberattack.

At 05:10 ET (09:10 GMT), TeamViewer stock traded 7% lower at €10.37, down around 25% so far this year.

The company, which owns software that allows the remote maintenance of computers and other devices, disclosed it detected an "irregularity" in its internal corporate IT environment on Wednesday.

"We immediately activated our response team and procedures, started investigations together with a team of globally renowned cyber security experts and implemented necessary remediation measures," the company said in a statement.

It further noted that its corporate IT environment is completely cut off from the product environment and that there is no evidence to indicate that any customer data has been impacted as a result of the incident.

The company claims its product is currently used by over 640,000 customers worldwide and has been installed on over 2.5 billion devices since the company launched.

It did not disclose any details as to who may have been behind the intrusion and how they were able to pull it off, but said an investigation is underway and that it would provide status updates as and when new information becomes available.

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