Car Dealership Data Provider Suffers Cyber Incident, Actively Investigates
Portfolio Pulse from Anthony Noto
CDK Global, an automotive data provider, experienced a cyber incident that disrupted operations across the U.S. and Canada. The company, acquired by Brookfield Business Partners in 2022, is actively investigating the issue and working to restore functionality. This incident highlights the vulnerability of automotive-related companies to cyber attacks.
June 19, 2024 | 8:44 pm
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NEGATIVE IMPACT
Advance Auto Parts is also investigating a potential data attack, which may compound concerns about cybersecurity in the automotive sector.
The news of a cyber incident at CDK Global, coupled with Advance Auto Parts' own investigation into a potential data attack, may heighten investor concerns about cybersecurity risks in the automotive sector.
CONFIDENCE 80
IMPORTANCE 60
RELEVANCE 60
NEGATIVE IMPACT
Brookfield Business Partners, which acquired CDK Global in 2022, may face short-term negative impacts due to the cyber incident affecting CDK's operations.
As the parent company of CDK Global, Brookfield Business Partners may experience negative sentiment and potential financial impacts due to the disruption in CDK's operations caused by the cyber incident.
CONFIDENCE 90
IMPORTANCE 70
RELEVANCE 80
NEGATIVE IMPACT
Snowflake is linked to a potential data attack affecting Advance Auto Parts, which may raise concerns about its security measures.
Snowflake's association with a potential data attack on Advance Auto Parts may lead to negative sentiment regarding its security protocols, especially in light of the broader cybersecurity issues in the automotive sector.
CONFIDENCE 70
IMPORTANCE 50
RELEVANCE 50