198 CDK Global, a prominent provider of retail technology and software solutions for over 15,000 retail locations across North America, has initiated efforts to restore its systems following a cyber incident, the company announced on Sunday. CDK expects this restoration process to span “several days.” In a statement emailed to stakeholders, CDK assured ongoing engagement with its customers, offering alternative methods for conducting business while their systems are offline. Last week, affected dealerships were notified that the restoration timeline could extend for several more days. The disruption began when CDK temporarily shut down all systems last Wednesday to investigate a cyber incident. This incident has significantly impacted operations for U.S. auto retailers such as Sonic Automotive and Penske Automotive, marking the third consecutive day of system outages. Earlier reports from Bloomberg News indicated that a group of hackers has claimed responsibility for the cyberattack on CDK’s software systems. The hackers reportedly demanded a substantial ransom to cease their activities. CDK Global was acquired by investment firm Brookfield Business Partners in April 2022 for $6.41 billion, a move that took the last major publicly traded provider of software for auto dealers and manufacturers private. You Might Be Interested In JPMorgan Chase Battles ATM Outages After Global Tech Glitch Intel Faces Turbulent Times as Shares Plummet and Company Restructures Robinhood to Acquire Bitstamp in $200 Million Deal AT&T Surpasses Expectations with Strong Wireless Subscriber Growth, Shares Up 4.8% Walgreens Boots Alliance Reduces Stake in Cencora, Raises $1.1 Billion in Share Sale Ford Shifts Gears: Prioritizes Profitable F-Series Trucks Over Planned Electric SUVs
