chinabacked fund to buy british chipmaker after us snub
Last Updated : GMT 09:40:38
Themuslimchronicle, themuslimchronicle
Themuslimchronicle, themuslimchronicle
Last Updated : GMT 09:40:38
Themuslimchronicle, themuslimchronicle

China-backed fund to buy British chipmaker after US snub

Themuslimchronicle, themuslimchronicle

Themuslimchronicle, themuslimchronicleChina-backed fund to buy British chipmaker after US snub

Canyon Bridge is to buy a British electronics firm after being blocked in the US
Beijing - AFP

Canyon Bridge, an investment fund backed by a Chinese state-owned group, is to acquire the British electronics company Imagination Technologies, shortly after being barred by Washington from buying US chipmaker Lattice Semiconductor.

Canyon Bridge will pay 550 million pounds cash ($743 million) for the British group, which specialises in mobile graphics processor technology, Imagination said.

Imagination's products were widely used in Apple's iPhone among other products, but are being phased out.

Imagination, in a statement Friday, also said it would sell the US semiconductor firm it bought in 2013, MIPS, to Tallwood Venture Capital for $65 million.

US President Donald Trump blocked Canyon Bridge's US deal in mid-September over national security concerns.

The decision banned Canyon Bridge, its Chinese partner Yitai Capital and Yitai's parent, the China Venture Capital Fund Corp, from purchasing the US firm, which serves the consumer, communications and industrial markets.

Trump has the authority to block foreign investments which he deems to be national security threats through the Committee on Foreign Investment.

Canyon Bridge says it manages about $1.5 billion on behalf of Yitai Capital.

Trump's predecessor Barack Obama also intervened to block a similar deal involving semiconductors on security concerns last year.

Chinese government-backed Grand Chip Investment scrapped plans to buy German semiconductor equipment maker Aixtron in December after Washington rejected the inclusion of Aixtron's US unit over fears it could put sensitive technology with potential military applications in Chinese hands.

The takeover of Imagination Technologies takes place one year after the acquisition of British chip designer ARM Holdings by Japan's Softbank for $32 billion.

source: AFP

themuslimchronicle
themuslimchronicle

Name *

E-mail *

Comment Title*

Comment *

: Characters Left

Mandatory *

Terms of use

Publishing Terms: Not to offend the author, or to persons or sanctities or attacking religions or divine self. And stay away from sectarian and racial incitement and insults.

I agree with the Terms of Use

Security Code*

chinabacked fund to buy british chipmaker after us snub chinabacked fund to buy british chipmaker after us snub

 



Themuslimchronicle, themuslimchronicle

GMT 06:29 2018 Sunday ,21 January

500 new trainees join US-backed Syria border force

GMT 10:31 2017 Sunday ,20 August

the history of solar eclipses

GMT 16:36 2017 Tuesday ,05 December

Gulf Air launches Bahrain Tourist Visa Service

GMT 03:19 2012 Saturday ,15 September

FREEDOM

GMT 06:56 2014 Friday ,12 September

No winners in Gaza

GMT 22:30 2012 Monday ,16 July

Sudan ruling party says protests \'ridiculous\'

GMT 07:09 2012 Wednesday ,20 June

Sudan and South Sudan border tensions

GMT 12:02 2012 Tuesday ,17 April

What the Living Do

GMT 17:33 2017 Saturday ,25 March

Caceres recalled to Paraguay squad for Brazil clash

GMT 17:18 2017 Tuesday ,19 December

Bahrain weather forecast

GMT 09:35 2017 Sunday ,29 October

Actress Annabella Sciorra accuses Weinstein of rape

GMT 13:43 2017 Thursday ,16 November

People Magazine names Blake Shelton 'sexiest man alive'

GMT 18:10 2017 Monday ,17 April

GCC Secretary-General Condemns Syria Blast

GMT 13:15 2017 Wednesday ,15 February

Inherited the talent to draw on glass

GMT 14:35 2017 Saturday ,25 March

Dar Essalam to Host Two Golf Competitions

GMT 07:22 2016 Saturday ,09 July

Gunfire near presidential palace in South Sudan

GMT 10:42 2017 Wednesday ,16 August

Chinese teen Internet addict dies

GMT 13:51 2017 Thursday ,21 September

King Salman meets with former Turkish president

GMT 09:31 2017 Wednesday ,29 March

NPRA holds training course

GMT 08:18 2017 Thursday ,14 December

Twitter makes 'tweetstorms' easier

GMT 17:19 2012 Thursday ,12 January

New electric-car racing championships
Themuslimchronicle, themuslimchronicle
Themuslimchronicle, themuslimchronicle
 
 Themuslimchronicle Facebook,themuslimchronicle facebook  Themuslimchronicle Twitter,themuslimchronicle twitter Themuslimchronicle Rss,themuslimchronicle rss  Themuslimchronicle Youtube,themuslimchronicle youtube  Themuslimchronicle Youtube,themuslimchronicle youtube

Maintained and developed by Arabs Today Group SAL.
All rights reserved to Arab Today Media Group 2023 ©

Maintained and developed by Arabs Today Group SAL.
All rights reserved to Arab Today Media Group 2023 ©

muslimchronicle muslimchronicle muslimchronicle muslimchronicle
themuslimchronicle themuslimchronicle themuslimchronicle
themuslimchronicle
بناية النخيل - رأس النبع _ خلف السفارة الفرنسية _بيروت - لبنان
themuslimchronicle, themuslimchronicle, themuslimchronicle