Microchip Technology (MCHP) says unauthorized party disrupted the Company’s use of certain servers and some business operations

Microchip Technology (NASDAQ: MCHP) disclosed:

On August 17, 2024, Microchip Technology Incorporated (the "Company") detected potentially suspicious activity involving its information technology ("IT") systems. Upon detecting the issue, the Company began taking steps to assess, contain and remediate the potentially unauthorized activity. On August 19, 2024, the Company determined that an unauthorized party disrupted the Company’s use of certain servers and some business operations. The Company promptly took additional steps to address the incident, including isolating the affected systems, shutting down certain systems, and launching an investigation with the assistance of external cybersecurity advisors.

As a result of the incident, certain of the Company’s manufacturing facilities are operating at less than normal levels, and the Company’s ability to fulfill orders is currently impacted. The Company is working diligently to bring the affected portions of its IT systems back online, restore normal business operations and mitigate the impact of the incident.

As the Company’s investigation is ongoing, the full scope, nature and impact of the incident are not yet known. As of the date of this filing, the Company has not yet determined whether the incident is reasonably likely to materially impact the Company’s financial condition or results of operations.

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