Marriott's Starwood database hacked, 500 million may be affected

Published : 12:45, Dec 01, 2018 | Updated : 12:45, Dec 01, 2018

Logo of Marriott hotel is seen in Vienna, Austria April 9, 2018. REUTERS/FILE PHOTOAltaba Inc, as Yahoo came to be known after Verizon bought it, said it expected to pay a total of $47 million in litigation expenses to settle related cases.

News of the attack highlights the need for companies to pay close attention on cyber security when making acquisitions.

“Understanding the cybersecurity posture of an investment is critical to assessing the value of the investment and considering reputational, financial, and legal harm that could befall the company,” said Jake Olcott, a vice president with cybersecurity firm BitSight.

Marriott said on Friday it was too early to estimate the financial impact of the breach and that it would not affect its long-term financial health. The hotel chain said it was working with its insurance carriers to assess coverage.