Microchip Opens New R&D Facility for Capacity Growth in Hyderabad’s One Golden Mile Office Tower

Hyderabad, INDIA, July 3, 2023 — Microchip Technology Incorporated (Nasdaq: MCHP), a leading provider of smart, connected and secure embedded control solutions, today announces the inauguration of its relocated Hyderabad research and development center in the Kokapet business district’s One Golden Mile office tower. Microchip’s new development center joins two other development centers in Bangalore and Chennai, in addition to sales offices in Bangalore, Chennai, Hyderabad, Pune and New Delhi.

Expanding its footprint with this relocated R&D center will allow Microchip to add to its talented workforce in India. It is a key element of a multi-year investment initiative that the company also announced today, aimed at growing its presence in this fast-growing regional semiconductor hub.

“Building on nearly 25 years of successful operations in India, this new facility will enable us to execute Microchip’s growth plans for many years to come,” said Ganesh Moorthy, President and CEO of Microchip. “It is ideally situated in one of India’s top business corridors, and will enable us to significantly expand headcount to support global Microchip business needs and our growing customer base in the region.”

Microchip purchased five floors for its 168,000-square-foot R&D center in the 15-story One Golden Mile office tower. The center was inaugurated today in a ceremony attended by Sri K.T. Rama Rao, Hon’ble Minister for IT, Industries, Municipal Administration and Urban Development of Telangana; Sri. Jayesh Ranjan, Principal Secretary IT, IBC Government of Telangana; Mr. Krishna Moorthy, President and CEO of India Electronics and Semiconductor Association; Ganesh Moorthy, President and CEO of Microchip; and Srikanth Settikere, Vice President and Managing Director of Microchip’s India Development Center. 

“We congratulate Microchip as the latest global technology leader to expand its operations in Hyderabad,” Rao said. “Microchip’s commitment to additional investments here further validates our success in cultivating one of the world’s deepest talent pools and creating a world-class business infrastructure for supporting corporate growth and success.”

“We applaud Microchip for its accomplishments to date in Hyderabad, and its vision for continuing growth here,” Ranjan said. “Microchip is a longstanding member of the Hyderabad business community, and we are delighted to help inaugurate this new facility that will serve the company and its employees and customers well into the future.” 

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Cautionary Statement:

The statements in this release relating to the opening of our relocated Hyderabad R&D center including the capacity for 1,000 employees, that the facility will support growth plans for the next 10 years, allow Microchip to add to its workforce in India, enable us to execute Microchip’s growth plans for many years to come, and significantly expand headcount to support global Microchip business needs and our growing customer base in the region, and that our ten-year investment initiative is aimed at growing its presence in this fast-growing regional semiconductor hub, are forward-looking statements made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995.

These statements involve risks and uncertainties that could cause our actual results to differ materially, including, but not limited to: changes in demand or market acceptance of our products and the products of our customers and our ability to meet any continued increases in market demand. 

For a detailed discussion of these and other risk factors, please refer to Microchip’s filings on Forms 10-K and 10-Q. You can obtain copies of Forms 10-K and 10-Q and other relevant documents for free at Microchip’s website (www.microchip.com) or the SEC’s website (www.sec.gov), or from commercial document retrieval services.

Stockholders of Microchip are cautioned not to place undue reliance on our forward-looking statements, which speak only as of the date such statements are made. Microchip does not undertake any obligation to update any forward-looking statements to reflect events, circumstances publicly, or new information after this press release or to reflect the occurrence of unanticipated events.

Microchip Technology Inc. is a leading provider of smart, connected and secure embedded control solutions. Its easy-to-use development tools and comprehensive product portfolio enable customers to create optimal designs which reduce risk while lowering total system cost and time to market. The company solutions serve more than 125,000 customers across the industrial, automotive, consumer, aerospace and defense, communications and computing markets. Headquartered in Chandler, Arizona, Microchip offers outstanding technical support along with dependable delivery and quality. For more information, visit the Microchip website at www.microchip.com.

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