Solarwinds cybersecurity spending tops $3 million in Q4, sees $20 million to $25 million in 2021
Due to the recent Russian espionage breach against its Orion software, SolarWinds reportedly spent more than $3 million on cybersecurity costs in the fourth quarter of 2020 and predicts this number will rise to $25 million in 2021. The massive spending includes initiatives to further product defense, remediation for the severe attack, consulting fees, and insurance costs.
The company had to address some significant cybersecurity troubles after the Orion software breach was made public. The hack affected just one aspect of the company, however, the supply-chain attack then targeted US organizations and federal agencies. Solarwinds listed the cybersecurity costs under “cyber incident,” reporting that they spent $3.48 million in the last three months of 2020.