More than 150 dealers forced to return to paper contracts due to cyber attack

More than 150 dealers forced to return to paper contracts due to cyber attack
More than 150 dealers forced to return to paper contracts due to cyber attack

As the National Holiday approaches, nearly one in five dealers must return to paper to draw up their contracts because their CDK software supplier has just been the victim of a cyberattack, we have learned The newspaper.

“We do not know what the recovery plan for CDK systems will be. For the moment, the dealers who use them are making paper contracts to be able to serve their customers,” indicates the Newspaper Ian P. Sam Yue Chi, CEO of Corporation des Concessionaires Automobiles du Québec (CCAQ).

According to CNN, the software is used by more than 15,000 dealerships in North America.

Last Tuesday, CDK said it was the victim of a cyberattack forcing the shutdown of its systems and the next day, the company was the victim of another incident, report analysts from the National Bank (BN), who commented on the act of piracy in a note.

Stock market fall

They deplore that the shares of the parent company, Brookfield Business Partners (BBU), have fallen by 7% since the computer attack.

According to these analysts, the stock reacted “excessively to a cyberattack against CDK, one of the Brookfield Business Partners portfolio companies.”

CDK did not respond to questions from Newspaper at the time of writing these lines.

Highlights

Brookfield Business Partners (BBU) purchased CDK for $11 billion two years ago.

-With Sylvain Larocque

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