Welcome back to Pearson is Everywhere!
Last time we looked at Protests, Financial Advice and Powerschool.
Today, we find that Pearson is worried about the security of their data.
The following excerpt is via Missouri Education Watchdog, who looked over Pearson’s most recent SEC filing:
All that big data collection by their digital products comes with a risk which they note in their report.
We operate in markets that are dependent on Information Technology (IT) systems and technological change.
All our businesses, to a greater or lesser extent, are dependent on information technology. We either provide software and/or internet services to our customers or we use complex IT systems and products to support our business activities, including customer-facing systems, back-office processing and infrastructure. We face several technological risks associated with software product development and service delivery, information technology security (including virus and cyber-attacks), e-commerce, enterprise resource planning system implementations and upgrades. Although plans and procedures are in place to reduce such risks,from time to time we have experienced verifiable attacks on our systems by unauthorized parties. To date such attacks have not resulted in any material damage to us, but our businesses could be adversely affected if our systems and infrastructure experience a significant failure or interruption.
That is the initial warning to investors. We may get hacked. But Pearson is not worried about the direct effect on their business from such an attack. It is the consumer fall out which is more troublesome, or more specifically their responsibilities when such data breaches do happen. Pearson is worried about legislation and regulation regarding data breaches and their impact the bottom line.
Read the whole thing.
Also: Pearson Sells Powerschool (for $350 million)
Reminder: NC Uses Powerschool