Microchip Technology

History

2024: Plants shut down due to cyber attack

In mid-August 2024, the American chipmaker Microchip Technology fell victim to a cyber attack that affected the work of a number of the company's production facilities. It is known that on August 17, the company discovered suspicious activity in its IT systems, and on August 19 it revealed a number of violations in server service and business operations. In response to the cyber attack, Microchip isolated the affected systems, and turned off some of them completely, which led to a shutdown of the chipmaker's enterprises. The company has brought in external cybersecurity consultants to investigate.

Microchip Technology products are used by about 123,000 customers in the industrial, automotive, consumer, aerospace and defense sectors, as well as in the communications and computing sectors.

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Bloomberg

Due to the incident, some of the company's production facilities cannot maintain the usual level of productivity, which is why the company cannot fulfill all orders on time, Microchip management explained. - We are working hard to get IT systems back up and running, getting the business back up and running, and mitigating the impact of the incident.

According to the manufacturer, by August 21, 2024, it is not known whether the incident will have significant consequences. US regulators require companies to report any significant violations in connection with cyber attacks within four working days of the incident being detected, but it is not always easy to determine the consequences.

Microchip Technology did not share details, but it is assumed that the company's IT systems were attacked for ransom. Yet so far no prominent extortion group has claimed responsibility for hacking Microchip Technology. However, the incident is more recent and cybercriminals usually wait until talks fail or come to a standstill before sharing the victim's stolen data on their website.^[1]

2018: $8.35 billion Microsemi purchase

In early March 2018, Microchip Technology announced the purchase of Microsemi for $8.35 billion. Read more here.