Mon, Mar 23, 2020

Greg Michaels Discusses Cyber Diligence With WSJ Pro Private Equity

As data breaches and rising cyberattacks continue to make headlines, buyout firms are taking a stronger stance on cyber security before they back an investment. During its acquisition by Verizon Communications, Inc., Yahoo reportedly spent USD 350 million on its USD 4.8 billion asking price, when it disclosed two data breaches. However, inadequate data protection and due diligence norms are prevalent from large brands to middle market companies and serve as the root cause of rising challenges that ultimately impact a company’s valuation.

Greg Michaels, Managing Director and LATAM Practice Leader in the Cyber Risk practice of Kroll, a division of Duff & Phelps, was recently quoted in WSJ PRO Private Equity talking about cyber risk in PE. Greg said, “As cyberattacks grow more sophisticated, PE firms might need to start sending in cyber experts even earlier in the due diligence process to help catch trickier-to-detect weaknesses.” Cyber risk in PE has never been more important, for, at the end of the day, it all comes down value either a loss or gain that determines a firm’s success. 

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