US President Donald Trump blocked HieFo Corp’s purchase of Emcore’s assets over national security concerns. According to a White House order, the deal raises concerns related to China.
HieFo bought Emcore’s chip production division in New Jersey for about $3 million. The order noted that HieFo could be controlled by a Chinese citizen, which may threaten US security.
A special US committee reviewed the deal and identified security issues. As a result, HieFo must divest all rights to Emcore assets within 180 days.
HieFo and Emcore have not yet commented on the decision. Earlier, Emcore had said HieFo bought its chips and manufacturing operations. The decision is seen as part of US policy to protect technology from foreign influence.
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