A technical issue, said to be linked to US cybersecurity firm CrowdStrike, has caused computers running Microsoft software to crash around the world.
The global computer system outage affected many banks, airlines, radio and television broadcasting companies around the world.
Microsoft said the problem began at 5:56 p.m. local time, and later said it had identified the root cause of the outage, with most services now back up and running.
In this regard, Dr. Mark Gregory, an associate professor in the School of Engineering at RMIT University in Australia, said that the service outage was caused by the Crowdstrike security program, which caused computers to crash.
A new update to a CrowdStrike software product, called Falcon, is believed to have disabled Windows computers.
What is CrowdStrike?
It is known as an American cybersecurity company that helps companies manage their security in “IT environments.”
Its primary function is to protect large corporations and stop data breaches, ransomware (cyber extortion software) and cyber attacks.
Its major clients include global investment banks, universities and other government systems.
As the cybersecurity landscape has changed rapidly in recent years, with more threat actors targeting large enterprises, more global companies are turning to CrowdStrike to protect their customers’ information.
What are the uses of CrowdStrike?
CrowdStrike Falcon is one of the company's flagship products, described on its website as "providing real-time indicators of attack, with ultra-accurate detection and automated protection" from potential cybersecurity threats.
Thousands of companies around the world use CrowdStrike Falcon to protect data, and Friday's server outage is believed to be the cause of Microsoft's global outage.
Earlier this week, CrowdStrike announced an update to its Falcon product, saying it would provide “unexpected speed and accuracy” in detecting security breaches.
Founder of CrowdStrike
The company was founded by George Kurtz, a former McAfee employee, in 2012.
Its ownership structure includes a mix of individual and institutional investors, and the company's shares are divided into two broad categories of investors: 40% owned by institutional investors, and about 57% by public companies and individual investors.
The US investment fund, The Vanguard Group, is said to be the largest investor, owning about 6.79% of the company.