A technical problem, reportedly connected to U.S.-based cybersecurity firm CrowdStrike, led to disruptions in computers running Microsoft software across Australia and beyond today.
Impact of the global outage
The widespread outage affecting numerous worldwide companies and government agencies.
Many computers attempted to restart and displayed blue-screen error messages.
Understanding CrowdStrike
Crowdstrike, via Fox News
What is CrowdStrike?
CrowdStrike is an American cybersecurity firm that helps companies manage their security in "IT environments"– everything that uses an internet connection.
Primary functions
Protect companies and prevent data breaches, ransomware, and cyber attacks.
Serves major clients including global investment banks, universities, and the Australian betting agency TAB Corp.
Changes in the cybersecurity environment
The cybersecurity landscape has evolved rapidly with an increase in threat actors targeting large businesses, such as Ticketmaster, Medibank, and Optus.
More companies are turning to firms like CrowdStrike to protect their customers' information.
CrowdStrike's main product: Falcon
What is CrowdStrike used for?
One of CrowdStrike's key products is CrowdStrike Falcon.
According to the company's website, Falcon provides "real-time indicators of attack, hyper-accurate detection, and automated protection" from cybersecurity threats.
Recent incident
Thousands of companies globally use CrowdStrike Falcon to protect data.
A crash of CrowdStrike's server on Friday is believed to have caused the global Microsoft software outage.
Recent update
Earlier this week, CrowdStrike announced an update to its Falcon product, promising "unprecedented speed and precision" in detecting security breaches.
In a statement following the outage, a CrowdStrike spokesperson indicated that the issue likely stemmed from the Falcon product.
Major sites worldwide, like Sky News, experience severe outages online.
Ownership of CrowdStrike
Founding and ownership structure
CrowdStrike was founded in 2012 by George Kurtz, a former McAfee employee.
The company's ownership is a mix of individual investors, institutions, and retail investors.
Major investors
Approximately 40% of the company is owned by institutional investors, while about 57% is owned by public companies and individual investors.
The largest shareholder is The Vanguard Group, a U.S. investment fund, holding about 6.79% of the company.
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