Summit Hosting Acquires Ransomware Attack Victim’s Business Assets
Summit Hosting has acquired the business assets of iNSYNQ, a desktop as a service and hosted applications provider that suffered a high-profile ransomware attack in July 2019.
Summit and iNSYNQ did not indicate whether the ransomware attack influenced or forced the iNSYNQ asset sale. Financial terms of the asset sale were note disclosed. And iNSYNQ executive leadership was not quoted in the assets sale announcement.
Summit Hosting Acquires iNSYNQ Assets: Details
In a prepared statement, Summit Hosting says the deal is a strategic step for the managed application hosting provider as it moves deeper into cloud and desktop as a service (DaaS) capabilities. The deal also means “increased security, flexibility and stability for iNSYNQ customers,” Summit said, without referring to the iNSYNQ ransomware attack.
In a prepared statement, Summit Hosting CEO Stanley Kania:
“We are thrilled to welcome iNSYNQ customers to the Summit Hosting family. Over the past 20 years, iNSYNQ has built an incredible business empowering accounting professionals to do their jobs effectively. This transaction continues Summit’s rapid and strategic growth, and expands Summit’s unmatched offerings for accounting professionals and SMBs looking for secure and reliable cloud solutions.”
iNSYNQ customers will “have the option to move over to the Summit platform quickly, giving them the increased security, flexibility, and stability of their own dedicated server,” Summit added in a statement.
Summit Hosting: Business Background
Summit Hosting was founded by Stanley Kania and Warren Patterson in 2016 through the merging of myownASP.com and NovelAspect.com. The company is a cloud hosting provider for QuickBooks and Sage Programs in North America.
The acquisition of iNSYNQ was in the works for many months even before the attack. One of Summits Hosting strategies is to acquire companies that fit well into what we do along with a great workplace culture.
Summit is becoming a leader in ERP application hosting. Look for Summit to continue to execute on it plan in 2020.
Stanley Kania
Chief Executive Officer
Stanley: Thank you for the additional details. Please be sure to share company updates for 2020 and beyond, both for MSSP Alert and ChannelE2E.
Best,
-jp
Interesting considering Summit Hosting is now suffering a ransomware attack going on day 5. This is the second ransomware attack our company has now dealt with since we started using Summit Hosting. Major disruption to our business. I question their leadership in the industry
Summit Hosting is complete failure. Cannot manage Jan 17 ransom ware attack. My company is stuck with them
You should stay away
Amy, John: We’ve reached out to Summit Hosting requesting comment about the alleged ransomware attack. I will update this comment if/when we have more info to share.
-jp
Joe Panettieri
Content Czar, MSSP Alert
We have 300 employees without paychecks at this point. We have late filings. Vendors with late payments. We used to do daily backups but were told to stop by Summit because it was causing them issues…now we are really dead in the water because Summit wont even send us our company file!!! Is there any legal action we can take?
Thank you Joe. Searching for another cloud provider but also trying to learn and understand if there something else our company should be doing to protect ourselves in the future. We put all our faith in Summit and this has hit our company hard and many other companies. We were informed this AM that are files had been restored back to 1/15/20 and which is 3 days of lost data. The email also informed us that we would be prompted to enter a new password when logging in to myownasp however that never happened. I was able to login with an old email but that caused concern for me as the email stated all passwords had been deleted and we would have to enter the temp password provided. Now 1:14PM Central time and I can no longer login. The system is down again.
Do you have any advice or articles to read to help a smaller that don’t house internal servers and the best way to navigate the cloud provider world
Following.
We are still without access- since last Sunday.
Has Summit replied to your inquiries? They are updating a website with a “status” once or twice a day.
Hi Carolyn, Readers:
I’m sorry I didn’t post this sooner amid travel. I reached out to Summit Hosting CEO Stan Kania on Thursday, January 23, requesting info about the alleged ransomware attack. He replied back on January 23 with this info, in quotes:
-end of statement –
-jp
The situation seems to get worse by the day. We have no communication from Summit in over 24+ hours. I have sent two support tickets with no response and they are closed within the hour of submitting and sent numerous emails with zero follow-up. Still down and no resolution in sight. Not sure of their method of handling this situation at this point but hard to even wrap my head around what lies ahead for our company. I wonder if the CEO realizes techs are closing support tickets without even responding to them.
We had access yesterday and today we are unable to access our information.
We still dont have access. Has anyone heard anything?