Trump administration blocks takeover of Portland-based Lattice Semiconductor by Chinese investor -

Trump administration blocks takeover of Portland-based Lattice Semiconductor by Chinese investor

Credit: geekwire.com

  • About: 9 days ago
  • 3 views

Citing national security concerns, President Trump will not allow a private-equity firm backed by Chinese investors to acquire Lattice Semiconductor, a maker of chips used in industrial equipment, data centers, and video devices.

Lattice and Canyon Bridge Capital Partners, a private-equity firm with ties to a fund owned by the Chinese government, agreed on a $1.3 billion acquisition deal last November, but deals involving foreign investors are automatically reviewed by regulators. Bloomberg reported Wednesday that President Trump personally decided to block the deal on the recommendation of a panel of regulators, and the White House issued a statement confirming the decision.

“The national-security risk posed by the transaction relates to, among other things, the potential transfer of intellectual property to the foreign acquirer, the Chinese government’s role in supporting this transaction, the importance of semiconductor supply chain integrity to the United States Government, and the use of Lattice products by the United States Government,” the White House said in a statement.

Lattice, headquartered in downtown Portland’s “Big Pink” office tower, makes field-programmable gate arrays (FPGAs), which are currently very hot for artificial intelligence and cloud computing applications but have a host of other uses. As the name suggests, FPGAs allow buyers to customize the chip to meet their unique needs once they’ve brought the chips back to the “field,” rather than trying to buy a general-purpose processor that might run too hot or take up too much space for specialized equipment.

“We are obviously disappointed in today’s decision by the President of the United States to forgo what we believe to be an excellent deal for Lattice’s shareholders and its employees by expanding the opportunity to keep jobs in America,” Canyon Bridge said in a statement.

Only four deals have been blocked by the president since 1990, according to Bloomberg. Most deals get rejected at the regulatory committee level, or the dealmakers decide to walk away once they get the sense the deal probably won’t happen, according to the report.

Follow Us on Twitter

Related stories with Trump administration blocks takeover of Portland-based Lattice Semiconductor by Chinese investor

Acumatica partners with Smartsheet and Adobe, targets legacy project accounting software in update to cloud-based ERP technology -World News
Acumatica partners with Smartsheet and Adobe, targets legacy project accounting software in update to cloud-based ERP technology 9 days ago
Acumatica, the privately held enterprise cloud technology company, is rolling out integrations with Smartsheet’s project and work management tools and Adobe’s Sign eSignature technology as part of the latest version of its flagship cloud-bas
Trump bars Chinese-backed firm from buying US chipmaker Lattice -World News
Trump bars Chinese-backed firm from buying US chipmaker Lattice 9 days ago
U.S. President Donald Trump blocked a Chinese-backed private equity firm from buying a U.S.-based chipmaker on Wednesday, sending a clear signal to Beijing that Washington will oppose takeover deals that involve technologies with potential military applic
Emotional Day takes longtime caddie off bag -World News
Emotional Day takes longtime caddie off bag 9 days ago
Bob Harig ESPN Senior Writer Close Senior golf writer for ESPN.com Covered golf for more than 20 years Earned Evans Scholarship to attend Indiana University LAKE FOREST, Ill. -- Jason Day became the latest high-profile golfer to make a caddie change, sayi
Donald Trump Named The Most Anti-LGBTQ President In U.S. History -World News
Donald Trump Named The Most Anti-LGBTQ President In U.S. History 9 days ago
Measured by both actions and outcomes, it's a fact that is now undeniable.
The Hero Of 'Charlie And The Chocolate Factory' Was Originally Black -World News
The Hero Of 'Charlie And The Chocolate Factory' Was Originally Black 9 days ago
But Roald Dahl's agent persuaded him to make Charlie Bucket white.
More photos of the BMW i3 Facelift and i3s -World News
More photos of the BMW i3 Facelift and i3s 9 days ago
At the 2017 Frankfurt Auto Show, BMW presented the much anticipated 2018 BMW i3 Facelift showing off the new updates to keep the i3 fresh. … The article More photos of the BMW i3 Facelift and i3s appeared first on BMW BLOG
Fast-Food Worker Charged with Trying to Kill Baby in Toilet -World News
Fast-Food Worker Charged with Trying to Kill Baby in Toilet 9 days ago
SAN FRANCISCO (AP) — California prosecutors said Wednesday that a fast-food restaurant cashier gave birth to a baby girl while at work and then tried to kill her him by flushing her down a toilet. The San Mateo County district attorney said Sarah Lockne
Ex-Wedding Photographer Who Duped Dozens of Women Into Sex Gets 10 Years in Prison -World News
Ex-Wedding Photographer Who Duped Dozens of Women Into Sex Gets 10 Years in Prison 9 days ago
RAYMORE, Mo. – A former wedding photographer who tricked two dozen women into having sex with him was sentenced to 10 years in prison on Wednesday. U.S. District Judge Beth Phillips denied parole for Mario Ambrose Antoine, 34, of Raymore, Missouri who
Ringo Starr explains why he is in favour of Brexit but says ‘don’t tell Bob Geldof’ -World News
Ringo Starr explains why he is in favour of Brexit but says ‘don’t tell Bob Geldof’ 9 days ago
Ringo Starr has explained why he voted for Brexit, saying "to be in control of your country is a good move"
Watch Enter Shikari get replaced by clones in new ‘Rabble Rouser’ video -World News
Watch Enter Shikari get replaced by clones in new ‘Rabble Rouser’ video 9 days ago
Enter Shikari share new video for track 'Rabble Rouser'. Song is lifted from band's upcoming album 'The Spark'
Tesla Just Lost One Of Its Most Valuable Executives -World News
Tesla Just Lost One Of Its Most Valuable Executives 9 days ago
He'd been with the company for 11 years.