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President Trump has blocked Canyon Bridge Capital Partners LLC from acquiring Lattice Semiconductor Corporation, using the authority granted by the Exon–Florio Amendment. Lattice Semiconductor makes programmable logic devices including field programmable gate arrays (FPGAs):
President Trump on Wednesday blocked a China-backed investor from buying an American semiconductor maker over national security concerns, a rare move that could signal more aggressive scrutiny of China's deal-making ambitions. The deal for Lattice Semiconductor has provided a test of the president's economic and diplomatic relationship with China.
[...] The White House said on Wednesday that it prevented the acquisition of Lattice Semiconductor, in part because the United States government relies on the company's products. The integrity of the semiconductor industry, it said, was vital.
The White House also raised concerns over the buyer's close ties to Beijing. The investment group included China Venture Capital Fund Corporation, which is owned by state-backed entities, the White House said.
The decision could foretell trouble for other Chinese deals under review by the Committee on Foreign Investment in the United States, a multiagency group that examines takeovers of American companies by foreign buyers and makes recommendations to the president. The group, which operates largely in secrecy, is also looking at the proposed purchase of MoneyGram International by Ant Financial, an affiliate of the Chinese technology giant Alibaba Group.
(Score: 5, Insightful) by Anonymous Coward on Thursday September 14 2017, @10:10PM (3 children)
Next on the TODO list:
When you outsource your IT to a foreign country, you open your entire network to a foreign government. The cost savings (maybe even subsidized by foreign intelligence services) are great for the CEO's short-term thinking, but may doom the American company. This needs to stop.
Today, most companies are prohibited from discriminating based on "national origin". That means a foreign government with a major reputation for spying can simply send over a spy with ideal qualifications for a job, have the spy apply for the job, and not face any resistance. The company isn't allowed to reject obvious security risks. This is exactly backwards; such people should be prohibited from taking jobs that would provide access to computer networks (an open ethernet port for example) that contain American proprietary information.
Getting trade secrets off of internet-connected computers would be another good step. No, that firewall won't protect you.
(Score: 0) by Anonymous Coward on Thursday September 14 2017, @10:28PM (1 child)
Why?
(Score: 2) by Bot on Thursday September 14 2017, @11:54PM
Because Frankie Valli said so.
Account abandoned.
(Score: 5, Insightful) by bob_super on Thursday September 14 2017, @10:29PM
Why would your firewall protect your data? The CEO said "push it all to the cloud".