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    Car Dealership Data Provider Suffers Cyber Incident, Actively Investigates

    6/19/24 4:44:19 PM ET
    $AAP
    $BBU
    $SNOW
    Auto & Home Supply Stores
    Consumer Discretionary
    Engineering & Construction
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    Get the next $AAP alert in real time by email

    A cyber incident at automotive data provider CDK Global, whose software is utilized by auto dealers, disrupted operations on Wednesday across the U.S. and Canada.

    What Happened: The company, which was purchased by Brookfield Business Partners (NYSE:BBU) in 2022 for more than $8 billion, is “actively investigating” the issue, CNN reported.

    A CDK spokesperson confirmed that most of the company’s systems were shut down as a precaution to protect customer data. Efforts are currently underway to restore functionality.

    See Also: Extreme Heat Waves Set To Drive Up US Natural Gas Prices – 10 Energy Stocks To Watch This Summer

    Why It Matters: CDK Global prides itself on providing technology services and software solutions to help some 15,000 auto dealerships run their businesses more efficiently.

    The software at these auto dealerships is integral to managing deal records, scheduling services and storing critical customer information.

    CDK Global reported partial restoration of some systems later in the day. A full recovery is still pending.

    Representatives from both CDK and Brookfield did not respond to Benzinga’s requests for comment.

    This isn’t the first cyber incident to affect an automotive-related company. Less than two weeks ago, Advance Auto Parts (NYSE:AAP) announced it was investigating a potential data attack connected to Snowflake (NYSE:SNOW).

    Reports surfaced on a dark web hacker forum indicating malicious actors may have stolen information on at least 380 million customers from the automotive aftermarket company.

    Hackers stole data from some 358,000 employees. Some 44 million loyalty and gas card numbers leaked.

    Now Read: Advance Auto Parts Probes Potential Cyber Incident Linked To Snowflake

    Image: Dall-E

    Get the next $AAP alert in real time by email

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