Microchip Technology says cybersecurity breach disrupted its operations

By Denny Jacob

Microchip Technology (MCHP) said a cyber breach occurred days ago that affected its manufacturing facilities and ability to fulfill orders.

The semiconductor-products provider said Tuesday it detected potentially suspicious activity involving its information-technology systems on Saturday, according to a securities filing. By Monday, it determined an unauthorized party disrupted the company's use of certain servers and business operations.

Microchip said certain of its manufacturing facilities are operating at less-than-normal levels, and its ability to fulfill orders is currently impacted. It added that it was working to mitigate the impact of the incident.

An investigation continues, so the full scope, nature and impact of the incident aren't yet known, Microchip said. It hasn't yet determined whether the incident is reasonably likely to materially impact its financial condition or results of operations.

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08-20-24 1714ET

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