(Bloomberg) -- A group that claims to have hacked CDK Global, the software provider to thousands of car dealerships in North America, has demanded tens of millions of dollars in ransom, according to a person familiar with the matter.Most Read from BloombergBuzzFeed Struggles to Sell Owner of Hit YouTube Show ‘Hot Ones’Jain Global Raises $5.3 Billion, Secures Cash From Abu DhabiNvidia’s 13% Stock Rout Has Traders Scouring Charts for SupportHow Long Can High Rates Last? Bond Markets Say Maybe Fore
The auto retail technology and software provider planned to pay the ransom, Bloomberg News reported. CDK has said it experienced a cyber incident on Wednesday. Although it did not directly comment on the Bloomberg report, the company in an emailed statement on Saturday said it launched an investigation by experts, notified law enforcement and has begun the restoration process.
Key Insights The projected fair value for Sonic Automotive is US$63.85 based on 2 Stage Free Cash Flow to Equity Sonic...