Adrian Johnson
TLDR:
- Microchip Technology’s manufacturing facilities, IT systems, and order fulfillment were disrupted by a cyberattack.
- The company detected suspicious activity, isolated affected systems, and brought in cybersecurity experts for investigation.
Microchip Technology, an Arizona-based chipmaker, disclosed in a regulatory filing that its operations were impacted by a cyberattack. The intrusion disrupted manufacturing facilities, IT systems, and order fulfillment. President and CEO Ganesh Moorthy stated that certain facilities were operating at reduced levels and the company’s ability to fulfill orders was affected. The company first detected suspicious activity on a Saturday and took immediate steps to assess, contain, and remediate the intrusion. By Monday, it was confirmed that an unauthorized party disrupted Microchip servers and business operations. The company has approximately 125,000 customers across various markets such as industrial, auto, aerospace, defense, communications, and computing.
Upon detecting the intrusion, Microchip isolated affected systems, shut down certain systems, and engaged third-party cybersecurity experts for investigation. The company is currently working to bring affected parts of its IT systems back online and restore normal business operations. The full scope and impact of the incident are still under investigation, and as of the filing date, it’s unclear if the attack will materially impact the company’s financial condition or results of operations. Microchip has not disclosed details about how the attacker breached its systems, whether ransomware was involved, or if any extortion demands were made.
