Brookfield Business Partners Provides Update on Restoration of Systems at its Dealer Software and Technology Services Operation
Brookfield Business Partners (NYSE: BBUC, BBU; TSX: BBUC, BBU.UN) provided an update on restoring systems at CDK Global, its dealer software and technology services operation. On June 19, CDK detected unauthorized cyber activity and swiftly shut down systems, engaged third-party experts, and notified law enforcement. Substantially all customers have been brought back onto CDK's core dealer management system ahead of the U.S. July 4 holiday weekend. The company is working to restore other applications, including CRM and Services solutions. CDK is actively supporting its customers' sales and service efforts during this period. Brookfield does not expect this incident to materially impact its business. CDK, acquired by Brookfield in 2022, leads in providing software solutions to automotive dealers and has invested significantly in technology and product offerings.
- CDK has successfully restored its core dealer management system for substantially all customers.
- Brookfield does not expect the cyber incident to have a material impact on its business.
- CDK has made significant investments in its technology and product offerings since its acquisition in 2022.
- CDK experienced unauthorized cyber activity, impacting its operations.
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BROOKFIELD, NEWS, July 03, 2024 (GLOBE NEWSWIRE) -- Brookfield Business Partners (NYSE: BBUC, BBU; TSX: BBUC, BBU.UN) announced today an update on the restoration of systems at its dealer software and technology services operation, CDK Global (“the business” or “CDK”).
On June 19, CDK detected and promptly responded to unauthorized cyber activity on its network. CDK proactively shut all systems down, engaged third-party experts to address and investigate the issue and notified law enforcement.
CDK has successfully brought substantially all customers back onto its core dealer management system in advance of the July 4 holiday weekend in the U.S. The business is also working to bring back online other applications including its Customer Relationship Management and Services solutions. In the interim, CDK continues to actively engage with its customers to support their sales and service efforts.
We do not expect this incident to have a material impact on Brookfield Business Partners.
CDK is the leading provider of software solutions to automotive dealers. Since our acquisition in 2022, CDK has made significant investment in its technology and product offering and is committed to continuing to be a best-in-class partner to its customers.
About Brookfield Business Partners
Brookfield Business Partners is a global business services and industrials company focused on owning and operating high-quality businesses that provide essential products and services and benefit from a strong competitive position. Investors have flexibility to invest in our company either through Brookfield Business Corporation (NYSE, TSX: BBUC), a corporation, or Brookfield Business Partners L.P. (NYSE: BBU; TSX: BBU.UN), a limited partnership. For more information, please visit https://bbu.brookfield.com.
Brookfield Business Partners is the flagship listed vehicle of Brookfield Asset Management’s Private Equity Group. Brookfield Asset Management is a leading global alternative asset manager with over
For more information, please contact:
| Media: | Investors: | ||
| Marie Fuller | Alan Fleming | ||
| Tel: +44 207 408 8375 | Tel: +1 (416) 645-2736 | ||
| Email: marie.fuller@brookfield.com | Email: alan.fleming@brookfield.com |
FAQ
What did Brookfield announce regarding CDK Global on July 3, 2024?
How has CDK Global responded to the cyber activity detected on June 19, 2024?
Will the cyber incident at CDK Global impact Brookfield Business Partners' overall business?
What systems is CDK Global working to restore after the cyber incident?
What steps has CDK Global taken since detecting the unauthorized cyber activity?
