Airlines, banks, and media companies were among the many sectors affected on Friday by a worldwide computer outage linked to Microsoft’s Azure cloud platform and a software problem at cybersecurity company CrowdStrike.

Computers using CrowdStrike software and the Windows operating system were affected. Following the release of an update for Windows users, CrowdStrike announced that it was working with the affected customers and has implemented a patch for the problem.

Here are some essential facts regarding CrowdStrike:

What is CrowdStrike.

CrowdStrike provides enterprises with cloud-based security solutions. One of the causes of the Friday outage was its Falcon programme, which finds anomalous behaviour and security holes in order to shield computer systems from malware and other dangers.

As of January, CrowdStrike, an Austin, Texas-based company founded in 2011, employed over 7,900 individuals, and operated in over 170 countries.

Nearly 70% of the more than $900 million in sales it recorded for the quarter ending in April came from the United States.

Who Are The Principal Customers And Rivals Of CrowdStrike?

Its clientele includes some of the largest tech firms in the world, such as Amazon, Intel, and Google, a division of Alphabet. Approximately 29,000 people use it worldwide.

With customers like the U.S. government, Formula One team Mercedes-AMG PETRONAS, and retail behemoth Target, it operates across several industries.

CrowdStrike is in competition with businesses like Fortinet, Zscaler, and Palo Alto Networks.

Stocks of CrowdStrike Compared to Peers

Friday’s premarket trade saw a roughly 12% decline in CrowdStrike’s shares. LSEG data shows that as of Thursday’s closing, CrowdStrike’s stock price had increased 34% this year to a market value of $83.5 billion. By contrast, Palo Alto Networks’ market capitalization is $104.87 billion, and its stock has increased by around 10% so far this year.

(Adapted from Reuters.com)