Engineering giant IMI reveals a major cyber attack on its internal network

UK-based engineering giant IMI has informed the London Stock Exchange that it suffered a major data security incident that compromised its internal network.

Headquartered in Birmingham, IMI specialises in fluid and motion control markets, engineering components for process automation, factories and production lines, climate control, and for transport and the life sciences sectors. With presence in over 50 countries, the majority of the company’s business is now spread across the U.S., Europe and Asia.

In a data security incident notice filed with the London Stock Exchange, IMI said that it is currently responding to a cyber security incident where threat actors infiltrated its internal network. The company immediately launched an investigation, with assistance from external cyber security experts, to determine the nature and scope of the incident.

IMI said it took steps to contain the incident and notified relevant law enforcement authorities about the same. “In parallel, the Company is taking the necessary steps to comply with our regulatory obligations,” reads the notice.

IMI is yet to share details on the nature of the data security incident, who is responsible for the attack or whether any confidential data was accessed or stolen by the threat actors. However, it has assured its stakeholders  that it will provide updates as and when available.

Last month, London-based engineering giant Smiths Group also disclosed a data security incident where threat actors gained unauthorised access to its systems.

While a filing with the London Stock Exchange did not reveal many details on the nature and scope of the incident, Smiths Group confirmed that the affected systems were isolated from the company’s network and its business continuity plans were activated.