AGCO develops and sells tractors, combines, foragers, hay tools, self-propelled sprayers, smart farming technologies, seeding and tillage equipment. Here is a timeline tracking the AGCO ransomware attack and recovery efforts. Check back for ongoing updates.
Monday, May 9, 2022: As of 8:30 a.m. ET, AGCO has not made a public announcement about the ransomware attack recovery effort since Friday, May 6.
Friday, May 6, 2022: Multiple updates...
- AGCO disclosed ransomware attack, stating that business operations will likely be "adversely affected for several days and potentially longer to fully resume all services depending upon how quickly the Company is able to repair its systems."
- AGCO did not disclose: the attacker's name; if a ransomware was demanded and whether it would be wait; nor whether the company has hired a third-party cybersecurity consultancy or MSSP to assist the investigation/recovery
Thursday, May 5, 2022: AGCO suffers ransomware attack.
About AGCO's Business
AGCO, based in Duluth, Georgia, is a worldwide manufacturer and distributor of agricultural equipment and solutions.
AGCO has 1,810 dealerships in North America. Amid the ransomware attack, dealers are now struggling to keep up with orders that were already backlogged, Reuters reported.
For its first quarter of 2022, AGCO reported net sales of approximately $2.7 billion, up 12.9% compared to the first quarter of 2021.