Mexico Weekly - Cyber Risk in M&A Deals
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Assessing Cyber Risk in Mergers & Acquisition Transactions
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Cyber risk in M&A deals is not a hypothetical scenario. Last summer Tripadvisor acquired travel website Viator in a deal reportedly worth $200 million. Then, at the start of September, Viator was notified by its payment service provider that its customers had been hit with unauthorised charges on their credit cards. Investigations revealed that the payment card information of users who made bookings through the company's website and mobile apps were potentially affected, leading Viator to contact its 1.4 million customer and tell them that their details were potentially compromised.
TripAdvisor’s shares dropped 4% after the news broke.1 In a 2014 survey, more than 90% of deal-makers said that the identification of cyber weaknesses could diminish the value of a target. However, 78% said that thorough examination of cyber security was not being conducted as part of due diligence.
As Tripadvisor found out to its cost, a cyber breach of the target before, during or after the transaction can lead to significant financial and business impact. Potential costs can include direct financial loss, regulatory or legal redress, operational damage and remediation costs. They can then spin out into reputational damage and long-term competitive disadvantage.
This week we would like to welcome MexCC's newest member
Mexico, a generous land, a land rich of traditions and culture…
While tequila is known worldwide, connoisseurs delight with sotol, Mexico´s best kept secret. A secret of 800 years reserved for the hacendados and distinguished guests. The Hacienda Tabalaopa, a family jewel since it’s establishment in 1881, has historically embraced Sotol as the spirit of the region. Leading a new generation of Mexican spirits Vinomex presents Sotol Hacienda de Chihuahua, an ultra premium spirit.
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THE GUARDIAN
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Consumer confidence in Mexico fell in August for a second consecutive month, as consumers were more pessimistic about the country’s economy despite seeing improvements in their own prospects.
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The Mexican poet Octavio Paz wrote in his brilliant book on Mexican culture The Labyrinth of Solitude, published in 1950, “Our cult of death is also a cult of life, in the same way that love is a hunger for life and a longing for death. Our fondness for destruction derives not only from our masochistic tendencies but also from a certain variety of religious emotion.â€
