2024-08-20 MICROCHIP TECHNOLOGY INC Cybersecurity Incident

Page last updated on September 4, 2024

MICROCHIP TECHNOLOGY INC initially disclosed a cybersecurity incident in an SEC 8-K filing on 2024-08-20 16:13:17 EDT.

Company Summary

Microchip Technology develops and manufactures semiconductor products for various embedded control applications worldwide.

Incident Details

Material: Unknown
Is Breach: TRUE
Records Compromised: Unknown
Data Types Impacted: No Data Types Tracked (yet)

Compromised Date:
Detected Date: 2024-08-07
Disclosure Date: 2024-08-20
Contained Date:
Recovered Date:

Attack Goal: Unknown

Costs: No Costs Tracked (yet)

Filings

8-K filed on 2024-08-20

MICROCHIP TECHNOLOGY INC filed an 8-K at 2024-08-20 16:13:17 EDT
Accession Number: 0000827054-24-000153

Item 8.01 Other Events.

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.

8-K filed on 2024-09-04

MICROCHIP TECHNOLOGY INC filed an 8-K at 2024-09-04 16:11:40 EDT
Accession Number: 0000827054-24-000181

Item 8.01 Other Events.

On August 20, 2024, Microchip Technology Incorporated (the “Company”) filed a Current Report on Form 8-K disclosing that an unauthorized party had disrupted the Company’s use of certain servers and some business operations. This filing on Form 8-K is an update to that previous filing.

The Company has been processing customer orders and shipping products for over a week and a half. Operationally critical IT systems are back online, and we have substantially restored our operations. The Company continues to work diligently to bring the remaining affected portions of its IT systems back online while continuing to follow cybersecurity protocols.

While the investigation is continuing, the Company believes that the unauthorized party obtained information stored in certain Company IT systems, including, for example, employee contact information and some encrypted and hashed passwords. We have not identified any customer or supplier data that has been obtained by the unauthorized party. The Company continues to investigate the nature and scope of the unauthorized access. The Company has notified employees, law enforcement, and regulators of the incident.

The Company is aware that an unauthorized party claims to have acquired and posted online certain data from the Company’s systems. The Company is investigating the validity of this claim with assistance from its outside cybersecurity and forensic experts.

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 does not believe the incident is reasonably likely to materially impact the Company’s financial condition or results of operations.

Company Information