TNB Tech Minute: Schneider Electric Investigating Cyberattack

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[00:00:31] Here's your TNB Tech Minute for Wednesday, November 6. I'm Cordelia James for The Wall Street Journal.

[00:00:37] Schneider Electric says it is investigating a cyberattack after a hacker claimed to have access to more than 40 gigabytes of the company's data. It's the second incident the French technology company has disclosed this year.

[00:00:50] A spokesperson for Schneider Electric said the attack affected a platform used to track internal projects that were hosted within an isolated environment.

[00:00:58] The spokesperson said the company's products and services were unaffected. An account on X under the name Greepy claimed responsibility for the hack. The hackers demanded a ransom of $125,000 from the company. Representatives for Schneider Electric declined to respond to questions about whether hackers stole data or if the company will pay a ransom.

[00:01:22] Teledyne Technologies has struck a deal to buy certain aerospace and defense electronics businesses from AEA investors backed Xelotos technologies for $710 million in cash. New York based AEA has owned Xelotos since 2017.

[00:01:39] Teledyne said the acquisition includes the UK based KeyOptic, which provides advanced optics for heads up and helmet mounted displays, dismounted tactical night vision systems, and proprietary glass used in space and satellite applications.

[00:01:55] Teledyne said it expects to complete the acquisition early next year.

[00:01:59] And the tech sector is facing both new headwinds and tailwinds after Donald Trump's victory in the presidential race.

[00:02:07] That's according to UBS analysts.

[00:02:09] On one hand, analysts say Trump's win could lead to heightened fears about the impact of new tariffs on earnings for the hardware and semiconductor industry.

[00:02:18] But, analysts say those setbacks likely won't outweigh structural growth over the medium term from robust artificial intelligence infrastructure spending.

[00:02:28] For a deeper dive into what's happening in tech, check out Thursday's Tech News Briefing podcast.

[00:02:32] We'll see you next time.

[00:02:32] Bye.