Tag: United States Department of Justice (DOJ)
‘Raising awareness of our industry’ – SIA’s Jake Parker discusses elections, legislative efforts
September 11, 2024Cory Harris, Editor
SILVER SPRING, Md.—With the outcome of the upcoming elections too difficult to predict, the Security Industry Association (SIA) continues to focus its lobbying on key issues versus individual candidates.
“I think we will definitely have a better idea after the election as far as what to expect because it’s not normal that you would have so much up in the air,” said Jake Parker, SIA’s senior director of government relations. “It's going to be...
DoJ to implement E.O. targeting data security for personal, government-related info
February 29, 2024SSN Staff
WASHINGTON, D.C. – On Feb. 28, 2024, the Biden-Harris Administration issued an executive order (E.O.) directing the U.S. Department of Justice (DOJ) to address national security risks regarding foreign entities accessing personal and government-related data.
The order will see the DoJ implementing provisions outlined in the document on behalf of the attorney general targeting entities listed as countries of concern (China, Russia, Iran, North Korea, Cuba, and Venezuela) under the...
United they fall
February 28, 2024Ken Showers, Managing Editor
Oh man, I really don’t like doing the same topic two weeks in a row, but we have to talk about ransomware again.
It should be about the ADT webcast, but we’ll save that one for next week, as a treat. Instead, today we’re going to take our medicine and I get to say I told you so while discussing the ransomware attack on UnitedHealthcare by BlackCat. You’ll remember BlackCat (ALPHV) because we’ve covered it before, but also because in this very blog spot last week I...
ASSA ABLOY reaches settlement with U.S. Department of Justice
May 6, 2023Ken Showers, Managing Editor
WASHINGTON, D.C. – Global access solutions provider ASSA ABLOY has resolved its lawsuit with the U.S. Department of Justice (DoJ), paving the way forward for its acquisition of Spectrum Brands’ Hardware and Home Improvement division (“HHI”).
On May 5 the company reached a settlement with the DoJ that will see ASSA ABLOY move forward with its divestment of Emtek and the Smart Residential business in the U.S. and Canada to Fortune Brands. At the time ASSA...
ASSA ABLOY delivers positive Q1 results in midst of trial proceedings
April 28, 2023Ken Showers, Managing Editor
WASHINGTON, D.C. – All signs pointed to a positive first quarter for lock maker and access solutions provider ASSA ABLOY despite a lawsuit looming over proceedings.
On April 26 the company held its quarterly earnings call for investors where it presented some strong numbers for growth including net sales increase of 22 percent to SEK 32,391 M (26,591), with organic growth of 8 percent (14) and acquired net growth of 5 percent. President and CEO Nico Delvaux attributed...
Earnestly Speaking
April 26, 2023Ken Showers, Managing Editor
The day of this blog marks the start of several weeks’ worth of Q1 quarterly earnings calls, and it’s my greatest hope that someone will have something exciting to say.
Make no mistake, from what I’ve seen of the industry these past few months it sounds like business is booming and a lot of companies are going to post some impressive first quarter numbers, but that’s boring. “Everybody made money” is a good story, but its not a very interesting story.
So...
U.S. Marshals suffer ransomware breach containing personal data
February 28, 2023Ken Showers, Managing Editor
WASHINGTON, D.C. – The U.S. Marshals Service (USMS) suffered a cybersecurity data breach in February, affecting what it referred to as “sensitive personal data.”
First reported by NBC News, USMS spokesperson Drew Wade, chief of the Office of Public Affairs, told the outlet that a ransomware attack occurred and constituted a major incident. The breach occurred on Feb. 17, according to Wade, and was limited to a “stand-alone USMS System." An investigation revealed that...
FBI infiltrates and disrupts Hive ransomware network
January 27, 2023Ken Showers, Managing Editor
WASHINGTON, D.C. – Diligence has paid off for the Federal Bureau of Investigations (FBI) as it revealed the results of a months-long disruption campaign against a ransomware group.
In a press conference on Jan. 26, the U.S. Department of Justice (DoJ) announced their successful penetration into the group whose targets included hospitals, school districts, and other critical infrastructure. “We are here to announce that last night, we dismantled an international ransomware network responsible...
ASSA ABLOY completes sale of Emtek and Smart Residential toward HHI acquisition
December 2, 2022SSN Staff
YARMOUTH, Maine – On Dec. 2 ASSA ABLOY announced that it has entered into binding agreements with Fortune Brands Home & Security with regard to the sale of its Emtek and Smart Residential businesses.
Following ASSA ABLOY’s bid to acquire Spectrum Brands HHI (Home and Hardware Improvement) division, the U.S. Department of Justice (DoJ) filed an antitrust lawsuit to block it on Sept. 15, 2022. As part of efforts to clear a path for the acquisition ASSA ABLOY moved to divest...
Assa Abloy shows growth in Q3, commits to HHI acquisition
October 28, 2022Ken Showers, Managing Editor
STOCKHOLM – This week lock maker and security giant Assa Abloy presented its Q3 financial results, with strong growth despite signs of a market slowdown.
The conference call opened with remarks from Assa Abloy President, CEO & Head, Global Technologies Division Nico Delvaux. The company experienced an organic sales growth of 14 percent which Delvaux credited to Entrance Systems and the America’s contributions, as well as Global Technologies. Net sales have increased 33 percent with...